Decentralized exchange dYdX halts services for Canadian users, joining other crypto exchanges such as OKX in exiting the market due to tighter regulations in the country
dYdX Decentralized Exchange announced that it will end user access from Canada, citing regulatory concerns as the primary reason.
Starting April 7 at 17:00 UTC, the exchange will no longer accept new Canadian users, while existing users will have one week to manage and close their positions on the platform.
Starting April 14 at 17:00 UTC, Canadian users will enter shutdown-only mode, but they will still be able to withdraw funds from the protocol at any time.
The move comes after other cryptocurrency exchanges, like OKX, exited the Canadian market due to tighter regulations.
Over the past few years, Canadian regulators have taken action against several major trading platforms, including Binance, Bitfinex, and KuCoin.
As dYdX navigates the changing regulatory landscape, the exchange hopes to resume services for Canadian users in the future once compliance issues are resolved.