You may have received an email regarding your Okcoin account being offboarded and that is because you are a registered user of Okcoin Technology Company Limited (Hong Kong). If you didn't receive this email directly, it does not apply to you. This announcement is not applicable to Okcoin users from the European Economic Area, the United Kingdom, Brunei, Canada, Singapore, and the United States.
Okcoin Technology Company Limited is offboarding its users due to new local regulations. Accordingly, starting October 12th, 2023, you will only be able to utilize login and withdrawal services for your Okcoin account.
Please note:
1. Kindly refrain from making any deposits into your Okcoin account after October 12th, 2023
- Deposits made after October 12th, 2023 may not be automatically credited. Kindly contact our customer support at support@okcoin.com if needed.
2. Please withdraw all your fiat and crypto assets by October 12th, 2023
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If you have crypto assets in your Okcoin account, you may withdraw/deposit them either to your OKX account*, or any other supported exchange or wallet of your choice.
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If you have USD and/or EUR in your Okcoin account, please convert it into crypto via Okcoin's convert function. After converting your USD or EUR to crypto, you may withdraw/deposit the crypto to either your OKX account*, or any other supported exchanges or wallets of your choice.
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If you have Brazilian Real (BRL) in your Okcoin account, you may either withdraw your BRL to a bank account in your name, or convert your BRL into crypto via Okcoin's convert function. After converting your BRL into crypto, you may withdraw/deposit the crypto to supported exchanges or wallets of your choice (OKX currently does not support BRL).
* Note: If you would like to open an OKX account, you may download the OKX app here: https://www.okx.com/download. OKX may not support the deposit of certain crypto assets due to regulatory restrictions in the jurisdiction that you are in.
3. If you do not withdraw your assets, Okcoin will charge you a monthly account fee starting on October 16th, 2023:
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Any remaining balance in your Trading account will be transferred to your Funding account, while any remaining balance in your sub-account(s) will be transferred to your main account, during which there may be temporary disruptions to the withdrawal function for such accounts.
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Between October 12th, 2023 (00:00:01 GMT+8) and October 16th, 2023 (23:59:59 GMT+8), Okcoin will perform a one-time conversion of all fiat assets held on the Okcoin platform to their equivalent value in USDC, based on the relevant market prices as at October 12th, 2023, 00:00:01 GMT+8.
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Thereafter, Okcoin will charge a monthly maintenance fee if you have a remaining balance that has not been moved or transferred, based on the fee schedule below:
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Time
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Account fee
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October 16th, 2023
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10 USDC (or its equivalence in other tokens)*
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November 16th, 2023
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50 USDC (or its equivalence in other tokens)*
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December 16th, 2023
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50 USDC (or its equivalence in other tokens)*
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* Note: If there is zero or insufficient USDC in the Okcoin account, any shortfall will be charged by deducting the equivalent value from the token balance in the account which has the highest total value (i.e. quantity x current market price).
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No further fees will be charged when all remaining assets have been withdrawn from your account or once the account balance reaches zero, whichever is earlier.
4. If you have any questions or problems, please contact our customer support at support@okcoin.com.