OKX To Cease Operations In This Asian Country, Urging Users To Liquidate Holdings By April 30

OKX To Cease Operations In This Asian Country, Urging Users To Liquidate Holdings By April 30
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In a recent development, Seychelles-based firm OKX, one of the largest cryptocurrency exchanges in the world, has announced the shutdown of its services in India. 
According to recent reports, the decision comes in response to regulatory hurdles faced by the exchange in the country. Users were notified of the closure through a notice sent on Thursday, stating that OKX “is no longer providing services to the users in India” due to local regulations.
OKX Announces Exit From Indian Crypto Market
The notice from OKX urged users to take specific actions before the deadline. Users were instructed to close all margin positions, including perpetual, futures, and options contracts, and redeem funds from staking products. 
Additionally, users were advised to withdraw all funds from their accounts. After April 30, 2024, at 2 AM UTC, account functionalities would be restricted, although fund withdrawals would still be permitted.
OKX’s decision to exit the Indian market follows

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