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India’s Crypto Market In Limbo: Another Exchange Departs As Regulations Remain Unclear

OKX is withdrawing from the Indian market. What Happened: On March 21, OKX issued a directive to its Indian clientele, advising them to liquidate their holdings and shut down their accounts by April 30. The company attributed the exit to the challenging regulatory landscape in India. The news comes nearly three months after a compliance ultimatum from India’s Financial Intelligence Unit (FIU) to nine international cryptocurrency exchanges. The FIU’s initial notice prompted a request to the Ministry of Electronics and Information Technology to restrict access to the websites of the implicated e…