Cryptocurrency regulations in India have been mixed over the years but since January and the tightening of KYC, it was expected that Indian users would be banned. In the past, 3 to 6 months were given, where trading was frozen with immediate effect, with the possibility of withdrawing funds during that period.
Allowing a withdrawal period of about a month or a little more may not be sufficient, especially if there is a large number of users.
Topic: OKX terminates services in India, asks users to withdraw funds by April 30 - page 2. (Read 228 times)
March 21, 2024, 10:56:56 AM
March 21, 2024, 10:06:47 AM
We all know that India has been unfriendly with foreign crypto exchanges some months ago till now. These exchanges websites have been banned and Indians can not access their websites without VPN. Also that Google Playstore and Apple Appstore have delisted the apps of these exchanges beyond the access of Indian users.
What is happening now is that OKX among the exchanges is telling its Indian users to withdraw their money and coins on the exchange before April 30.
https://cointelegraph.com/news/okx-terminates-services-india-tells-users-withdraw-funds
We are going to see more exchanges that will follow OKX soon.
What is happening now is that OKX among the exchanges is telling its Indian users to withdraw their money and coins on the exchange before April 30.
In a notice sent to Indian users on March 21, OKX asked users to close their accounts and redeem funds before April 30. The crypto exchange cited local regulatory hurdles as the key reason behind the decision.
https://cointelegraph.com/news/okx-terminates-services-india-tells-users-withdraw-funds
We are going to see more exchanges that will follow OKX soon.
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