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.
"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.
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