The company assures that the reason is due to OKX’s priorities – “platform and user security.”
“If your account has not yet been verified, please complete identity verification by 10:00 a.m. (MST), August 21.
The OKX team has worked for many months to create the most convenient and efficient verification process possible.
The procedure usually takes just a few minutes,” the company said in an official statement.
The new requirements affect OKX users not only in Russia, but also around the world;
Earlier, the company explained why the cryptocurrency exchange’s website, blocked since October 2022, became available to Russian users again:
“Following the regulator’s requirements, OKX has conducted an audit of documents, products and the Russian-language website, promptly updating the submitted documentation.
The updates included Russian translations of the terms and conditions, terms of service and other related documents.”
In June, OKX notified Russian users that it was imposing restrictions on a number of revenue-generating Earn products.
The platform’s official blog stated that certain Earn offerings, as well as Shark Fin and Double Investments products, would become unavailable to users from Russia.
The changes in user services were due to market conditions and regulatory requirements.