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OKX To Cease Operations in Canada by June 22 2023

On Mar. 20, cryptocurrency exchange OKX informed Canadian users via email the firm "will no longer provide services or allow users to open new accounts in Canada starting on Mar. 24, 2023, 12:00 AM EST," citing "new regulations." According to OKX, existing Canadian customers must close open positions in options, margins, perpetual, and futures by June 22, 2023. Fiat or tokens must also be withdrawn by the said date.

OKX says its withdrawal from Canada is "temporary," and the exchange is working with regulators to solve this issue. "We hope to see you again in the future. Stay tuned," wrote OKX staff. Previously, cryptocurrency exchange Bittrex Global off-boarded Canadian users on July 29, 2022, after giving advance notice, which, too, cited regulatory developments as reasons for leaving the country.

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