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OKX Crypto Trading Halts Operations in India

Crypto exchange OKX is ceasing services for users in India, it said in an email to customers Thursday, advising them to withdraw their funds by April-end. The move follows Apple and Google pulling the eponymous app of OKX in the country after an Indian government agency said many crypto exchanges were operating illegally in the South Asian market. Financial Intelligence Unit, the government agency, named Binance, Kraken, Huobi and Gate.io among apps operating “illegally” in India but hadn’t named OKX in its public statement. OKX has advised customers in India to close all their active margin positions and withdraw all funds by April 30. While India-based crypto exchanges continued to require rigorous know-your-customer verifications before onboarding new users, the same hasn’t been true of many global platforms.

Zara Khan
March 21, 2024

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Meta Takes on Another EU Privacy Challenge Regarding ‘Pay for Privacy’ Consent

What then followed, last fall, was a claim from Meta that it would be switching to a consent basis for tracking. Facebook and Instagram users who wish to continue to get free access to the services have to “consent” to its tracking — which Meta claims is valid consent under the bloc’s General Data Protection Regulation (GDPR). Withdrawing consent in the scenario Meta has devised requires users to sign up for a monthly subscription. So noyb’s follow-up complaint targets the inherent friction in Meta charging users money to protect their privacy. However, by then, Meta had already shifted its claimed basis to consent, meaning it could just sidestep the regulatory intervention.