On March 24, 2023, OKX will stop serving Canadian customers and block new account registrations due to "new rules". Customers must close their positions by June 22. In addition, all funds must be withdrawn by that date.
Exchange officials said the funds will remain in the account under protection until you withdraw them. They also added that this is a temporary measure and they are "working with regulators to resolve this issue".
In early 2022, OKEx rebranded itself as OKX to demonstrate its commitment to the digital currency industry and the Web3 environment. In August, the Ontario Securities Commission announced that the bitcoin exchange provider had violated local securities regulations.
The regulator had previously fined Bybit and ordered KuCoin to stop its activities. Binance and Bitfinex made a statement that they would no longer provide services to citizens of this state.
In December, the CSA warned of stricter standards for the crypto business immediately after the failure of FTX.