dYdX to end support for Canadian users, cites regulatory environment

Quick Take

  • dYdX announced Friday that its decentralized derivatives exchange would no longer be accessible to Canadian customers.
  • Trading support for existing customers will end on April 14. 

dYdX said its decentralized derivatives exchange will no longer be accessible to Canadian customers.

New users won't be able to join the exchange beginning today, and trading support for existing Canadian customers will end in a week. 

"On April 14th at 17:00 UTC, dYdX will move all existing users in Canada to close-only mode, and users will maintain the ability to withdraw funds from the protocol at any time," the dYdX team said in a blog post.

The exchange nodded to the current regulatory environment in Canada in announcing the move. Canada has adopted a more restrictive stance toward exchanges in the country in recent months, a process that accelerated following the collapse of FTX. Regulators are expected to release updated guidance in the near future. 


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

"We hope that the regulatory climate in Canada will change over time to allow us to resume services in the country," the dYdX team wrote. 

The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


To contact the editor of this story:
Larry DiTore at
[email protected]