OKX was among the nine foreign crypto exchanges blocked in India after the FIU issued a non-compliance notice.
OKX cryptocurrency exchange is closing its services in India nearly three months after the Financial Intelligence Unit (FIU), an arm of the Indian Finance Ministry, issued a notice of non-compliance to nine foreign crypto exchanges.
OKX notified its Indian users on March 21, asking them to close their accounts and redeem funds before April 30. The crypto exchange cited local regulatory hurdles as the key reason behind their step.
The FIU has requested the Ministry of Electronics and Information Technology block the websites of the notified crypto exchanges within two weeks of the notice.
