2 years ago
“We anticipation that the regulatory clime successful Canada volition alteration implicit clip to let america to resume services successful the country," said the exchange.
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Cryptocurrency derivatives speech dYdX has announced it volition beryllium restricting Canadian idiosyncratic accounts implicit the adjacent 7 days successful a determination to exit the market.
In an April 7 blog post, dYdX said it volition beryllium “winding down services” successful Canada, starting with halting the onboarding of caller users located successful the country. On April 14, the speech volition determination each existing Canadian users to “close-only mode,” allowing them to lone retreat funds.
“dYdX is committed to providing transparency astir merchandise decisions and democratizing entree to fiscal opportunity,” said the exchange. “We anticipation that the regulatory clime successful Canada volition alteration implicit clip to let america to resume services successful the country.”
The determination followed the Canadian Securities Administrators announcing further restrictions for crypto exchanges’ registration requirements successful the country. The rules required platforms to beryllium “prohibited from permitting Canadian clients to participate into crypto contracts to bargain and merchantability immoderate crypto plus that is itself a information and/or a derivative.”
Related: GMX and dYdX spell head-to-head for the apical decentralized derivatives position
In September 2022, galore dYdX users and those successful the crypto abstraction criticized a promotion from the decentralized speech offering a $25 deposit bonus for confirming someone’s individuality utilizing a unrecorded webcam image. The speech aboriginal ended the program, citing “overwhelming demand” alternatively than immoderate of the privateness concerns enactment forth.
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