Crypto exchange OKX has announced it will cease operations in Nigeria due to local regulatory changes. In an email on July 17, OKX informed users that services would be discontinued by August 16, advising them to review accounts and close open positions.
This decision follows a broader trend of crypto firms exiting Nigeria amid increasing regulatory challenges. As of August 16, users will no longer be able to open new trading positions, although withdrawals and closing of existing positions will still be possible.
OKX’s exit adds to a list of crypto companies facing difficulties in Nigeria, underscoring the growing tension between digital asset services and local regulations. The strategic move by OKX highlights the importance of regulatory compliance in the evolving crypto market.
