Derivatives exchange dYdX to discontinue Canadian services Derivatives exchange dYdX to discontinue Canadian services
The exchange is restricting its availability to comply with regulations.
1 min read
Updated: Apr. 7, 2023 at 9:17 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The crypto derivatives exchange dYdX has announced that it will no longer offer its services to Canadian users, according to an April 7 blog post.
The site said that Canadian users would not be able to join the exchange as of April 7. However, existing Canadian users will only be able to execute and close trades as of April 14. Canadian users will also be able to withdraw funds after that time.
The project attributed its decision to recent regulatory developments, writing that it hopes that Canadian regulations will change and allow it to provide services again.
Though dYdX did not state which regulations were at play, Canadian regulators have recently imposed rules that require exchanges to segregate Canadian users’ crypto assets from other assets and refrain from providing select services.
Certain crypto companies, including Blockchain.com and OKX, have also suspended Canadian operations. Others, such as Coinbase and Kraken, plan to stay in the country.
Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol.