Canadian regulators have been shoring up digital currency regulatory loopholes and demanding better from VASPs, and OKX is unable to adhere to the new regulations.
The new name reflects OKEx’s dedication to "the new frontier of this wave of technological revolution"—including a suite of DeFi products, NFTs, games, and metaverses, according to the company.
Users of FloatSV exchange have until February 20 to withdraw their assets from the exchange, which is shutting down following a decision by OK Group to discontinue their white label services.
The Ontario securities regulator has set its sights on OKEx, which it accuses of non-compliance, after it went after Poloniex, Kucoin and Bybit.
The revised Financial Transactions Reports Act prohibits order book sharing, stating, “Cryptoasset providers may not allow customers to trade with the customers of other cryptoasset providers through alliances.”
CoinGeek expresses its support for Bitcoin SV, Bitcoin Association and the many developers and users of Bitcoin SV around the world.
OKEx CEO Jay Hao recently participated in an AMA where he announced that OKEx has made changes to prevent future withdrawal suspensions.
OKEx has announced its compensation and reward program for users who continued to trade while the platform halted withdrawals.
OKEx founder Mingxing 'Star' Xu has been released from police custody after being a participant in an ongoing police investigation.
OkEx has announced that it will be resuming unrestricted withdrawals on November 27th–Withdrawals from the OKEx exchange were halted for 42 days.
Following the suspension of withdrawals from trading accounts, hash power dropped by as much as 99% on OKEx's digital currency mining pools.