Cryptocurrency exchange OKX has reportedly said that its services in India are being discontinued due to local regulations. In an email notification sent on March 21st, the platform urged users in the country to close their positions by the end of April.
The latest development comes on the heels of a continued crackdown on global crypto exchanges by the Indian government.
OKX Calls its Quits
India has intensified its efforts to tackle illegal operations by exchanges within its borders. In line with these efforts, the Indian Finance Ministry’s Financial Intelligence Unit (FIU) issued a notice to nine exchanges in December last year, which included Binance, Kraken, MEXC Global, Kucoin, Huobi, Bittrex, Gate.io, Bitstamp, and Bitfinex.
Subsequently, Google and Apple removed these apps from the Play Store and App Store platforms in India. The latest development comes as a surprise, as OKX was notably absent from FIU’s list.
#OKX to cease operations in India. pic.twitter.com/HBkgmUMEZA
We współpracy z: https://cryptopotato.com/okx-to-reportedly-discontinue-service-in-india-users-directed-to-close-positions/
