OKX suspends services in Japan
OKX suspends services in Japan
Crypto exchange OKX seems to have stopped providing services to Japanese users.
This assumption was made after the notice: "OKX Exchange products are unavailable in Japan due to local laws and regulations. You can still sign up/log in, and access the OKX Wallet. If you don't reside in Japan, you may continue using OKX Exchange products with a valid government- issued ID".
According to the Crypto News portal, trading within the OKX app remains available for now, and no effective date for the notice has been announced.
Earlier, another cryptocurrency exchange, Binance, announced that its global platform will stop providing services in Japan as of November 30, and all local clients are advised to switch to Binance Japan, which complies with regulatory requirements and rules. This means that OKX, which is not licensed in Japan, will have to respond to the Financial Services Agency.
Not long ago, OKX partnered with Komainu to allow institutional clients in Japan to keep their digital assets in a Nomura-backed custodian while trading on the exchange.
Also, earlier, we reported that Japan is relaxing its tax policies for companies providing digital asset services in an effort to make the country a digital asset hub.
