Popular crypto exchange OKX has decided to end its services in India.
Cryptocurrency exchange OKX has announced that it will terminate its services in India. In a message sent to users via email, the exchange requested them to close all their positions by April 30th and withdraw their money from the platform by that date.
The exchange cited regulatory policies in the country as the reason for this decision.
Approximately 3 months ago, the Financial Intelligence Unit (FIU) of the Indian Ministry of Finance sent compliance notices to OKX and 9 other cryptocurrency exchanges. These exchanges included major names such as Binance, Kraken, and MEXC Global. It was not surprising that OKX decided to end its operations after receiving this notice.
It remains uncertain whether other cryptocurrency exchanges will choose to comply with the laws or leave the country.
