On March 20, the cryptocurrency exchange OKX informed Canadian users by email that the company "will no longer provide assistance or allow users to set up new accounts in Canada from 12:00 US time on March 24, 2023" because of the new rules. According to OKX regulations, existing Canadian customers are required to repay outstanding stock index futures, margin, permanent and futures positions by June 22. Fiat cars or tokens should also be withdrawn before this time.

Your assets will be quickly stored in your account until you get it back. You will be able to get US dollars to your related bank account and cryptocurrency to your self-service escrow wallet or another exchange's cryptocurrency account. "

OKX indicated that its withdrawal from Canada was "temporary" and that it was working with regulators to address the issue. Everyone would like to see you again. Please wait for it. Previously, the cryptocurrency exchange Bittrex Global, which let Canadian users off the plane on July 29, 2022, also left Canada under the pretext of controlling the trend of the situation.

On Feb. 22, the Canadian Securities Administrator (CSA) issued a notice stipulating that login to the password Exchange would wait for regulators to sign a new binding commitment during the registration period. In many projects, a new performance pledge strictly forbids "the purchase and storage of meaningful encrypted assets according to the login password contract (commonly referred to as the smooth login password) without the prior written consent of CSA", although the relatively stable dollar coins (USDC) do not seem to be affected by the ruling.

At this stage, all cryptocurrency exchanges must apply for registration with Canadian regulators before allowing users to log in in the country. On June 22nd, the cryptocurrency exchanges ByBit and KuCoin were fined multimillion-dollar fines after the Ontario Securities Federation (Ontario Securities Commission) rated them as operating as "substandard service platforms" in Ontario.