The Seychelles-based crypto-trading platform has emailed its Canadian customers to inform them it will no longer open new accounts for people based in the country starting Friday. Existing Canadian customers must close open positions and withdraw tokens and cash by June 22. (Cointelegraph)
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The Seychelles-based crypto-trading platform has emailed its Canadian customers to inform them it will no longer open new accounts for people based in the country starting Friday. Existing Canadian customers must close open positions and withdraw tokens and cash by June 22. (Cointelegraph)
Talking point: Friday will mark the end of a 30-day window the Canadian Securities Administrators, an umbrella organization for provincial securities regulators, gave to offshore crypto platforms that haven’t yet submitted an agreement to follow certain rules while they pursue full registration. OKX is one of four platforms the Ontario Securities Commission has slapped with enforcement action since regulators started their crackdown on the sector in 2021. OKX and British Virgin Islands-based Bybit paid their fines and entered into undertakings to restrict Ontario users as ordered. Jack Sutherland, a spokesperson for OKX, did not respond to The Logic’s request for comment.
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