Crypto Exchange OKX Set To Pull Out Of Canada
Existing Canadian users must liquidate open positions in perpetual, options, futures, and margin by June 22 and withdraw cash or tokens, according to a letter from the exchange to clients.
In addition, OKX claims that as of 24 March, the company would no longer offer services or permit Canadian consumers to register new accounts.
Despite the announcement, OKX, the second-largest cryptocurrency exchange by trading volume, claims the change is just “temporary” and that it is being resolved in conjunction with regulators.
“Your funds will remain safe in your account until you withdraw them. You will be able to withdraw dollars to your linked bank account and cryptocurrency to your self-custody wallet or your cryptocurrency account on another exchange,” the e-mail says.
(With inputs from Shikha Singh)
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