OKX Exchange to Exit Nigeria Amid Regulatory Challenges

OKX has announced that it will cease all operations in Nigeria from August 16 due to an increasingly stringent regulatory environment.

The exchange has instructed its Nigerian users to close all their trading positions and withdraw their assets by August 30.

The exit from Nigeria is a direct result of local regulatory policies that have become increasingly hostile towards digital assets.

The users will still be able to withdraw their funds and close any open positions until August 30.

This isn't the first time OKX has had to adjust its operations due to regulatory pressures. In May, the exchange exited from Hong Kong.

The Nigerian government has been aggressive in its stance against crypto trading, attributing it to the weakening of Naira.

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