Derivatives exchange dYdX to discontinue Canadian services
Crypto derivatives exchange dYdX has announced that it will no longer serve Canadian users. April 7 blog post.
Canadian users will not be able to join the exchange as of April 7, according to the site. However, existing Canadian users will be able to execute and settle trades only as of April 14th. Canadian users can also withdraw funds after that point. .
The project attributed its decision to recent regulatory developments, writing that it hopes that Canadian regulations will change and the service will be able to be offered again.
dYdX has not disclosed which regulations apply, but Canadian regulators recently asked exchanges to segregate Canadian users’ crypto assets from other assets and refrain from offering some services. I imposed a rule to demand.
Certain cryptocurrency companies such as Blockchain.com and OKX have also suspended operations in Canada. Other companies such as Coinbase and Kraken will remain in the country.
Post-derivatives exchange dYdX discontinuing Canadian services first appeared on CryptoSlate.