The crypto exchange cited local regulatory hurdles as the key reason behind their step.
OKX cryptocurrency exchange is closing its services in India nearly three months after the Financial Intelligence Unit of the Indian Ministry of Finance
After authorities blocked its website and application in January, OKX implemented a new registration process with rigorous Know Your Customer checks; however, its notice to users suggests the exchange will no longer operate in India. Although discussions regarding a regulatory framework have been ongoing for almost four years, the Indian government appears to have no intention of acknowledging or subjecting the emerging crypto market to legal oversight.
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