OKX has today informed Canadian users via email that it “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.”
All existing Canadian customers must close open positions in options, margins, perpetual, and futures by June 22, 2023, and must withdraw their fiat or tokens by the same date.
OKX says its withdrawal from Canada is “temporary,” and the exchange is working with regulators to solve this issue. Similarly, cryptocurrency exchange Bittrex Global off-boarded Canadian users on July 29, 2022, after giving advance notice and citing regulatory developments as reasons for leaving the country.
Currently, all cryptocurrency exchanges must register with Canadian regulators before onboarding users in the country.
