- This applies to Earn, Shark Fin and Dual Investment products
- As of June 19, these solutions are not available to Russian users
- All open positions on them will be automatically liquidated upon expiry
On June 19, the OKX cryptocurrency exchange announced changes to the Terms of Service (ToS) for several of its products. Due to regulatory requirements, the platform will restrict access for Russian users.
“We strive to constantly improve our offerings and try to promptly respond to market and regulatory requests.. Because of this, we are forced to make certain changes to Earn products,” the company says on its website.
This also applies to Shark Fin and Dual Investment financial solutions.. Open positions in these products will be automatically closed at expiration.. The change takes effect from the date of publication (June 19).
We note that the change in the internal policy of the exchange has caused a fierce reaction in the Ru-group of OKX in Telegram. But it had no effect on the platform’s decision.
Remind that shortly after the start of the war in Ukraine, the EU imposed harsh cryptosanctions against Russia.. They were later supported by the U.S., Singapore and several other jurisdictions.
Most major CEXs have suspended service to Russian users or significantly reduced the list of services available to them. This includes, for example, Binance, which, however, was suspected of the opposite.
As for OKX, the exchange continues its expansion in Asia. The company opened a representative office in Hong Kong.