 | OKX is shutting down its services in India following compliance notices from the Financial Intelligence Unit (FIU). Users have until April 30 to withdraw funds. The decision comes amid regulatory hurdles and website blocks by Indian authorities. India's unclear regulatory landscape and stringent actions pose challenges for foreign exchanges. Despite ongoing discussions, formal crypto regulations remain elusive. Taxation issues have also prompted established players to relocate. The government's stance on crypto regulation lacks clarity, emphasizing the need for clearer guidelines akin to traditional markets. OKX has not responded to requests for comments. [link] [comments] |
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