Crypto NewsAltcoindYdX Announces No Longer Serving Canadian Citizens!

dYdX Announces No Longer Serving Canadian Citizens!

Leading DEX platform dYdx is turning Canadian customers away from the platform due to regulatory pressure in the country.

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dYdX, the leading decentralized derivatives trading platform in the history of blockchain, announced minutes ago that it will no longer serve customers residing in Canada.

Sharing the decision via a blog post, dYdX officials admitted that the decision was disturbing and apologized to its users. According to the announcement, users residing in Canada will not be able to open new accounts on the DEX platform as of April 14, 17:00 (UTC).

Canadian users who are already trading on the stock market will have the right to continue their transactions until April 21. The authorities assured that they will give the citizens time to close their required positions and will have the opportunity to withdraw their money from the platform at any time.

dYdX developers finally announced their decision to remove Canadian citizens from the platform as follows:

“dYdX is working to provide transparency on product decisions and facilitate access to financial opportunities. However, the regulatory approach in Canada prevents us from serving the country's citizens.”

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