DYdX Crypto Derivatives Exchange Successfully Expands into Canadian Market

On Friday, DYdX, a leading exchange for crypto derivatives, made the decision to pull out of the Canadian market.

Effective at 17:00 UTC, the exchange ceased accepting new users located in Canada. For the next seven days, existing Canadian users will maintain complete access to dYdX's platform. However, starting on April 14th, they will only be permitted to enter "close-only mode" which allows them to close their positions and withdraw their capital.

DYdX's exit from the Canadian market occurred six weeks after the Canadian Securities Administrators released updated regulations, which mandated that cryptocurrency exchanges and trading platforms adhere to "strengthened measures for safeguarding investors."

“We hope that the regulatory climate in Canada will change over time to allow us to resume services in the country,” dYdX said in a blog post.

As of the time of writing, the dYdX token was being traded at $2.45, reflecting a decline of approximately 5.4% over the last 24 hours

Source Coindesk

DYdX Crypto Derivatives Exchange Successfully Expands into Canadian Market

Canadian users who are currently registered on the platform will have the opportunity to continue trading on the exchange until April 14th.