- Several crypto exchanges have chosen to leave Canada in recent months.
- Bybit has joined the growing list.
- The country recently opted to tighten its crypto rules.
In the wake of the FTX collapse in November 2022, some jurisdictions have chosen to tighten rules for crypto businesses. One such jurisdiction is Canada.
Several crypto firms have, however, opted to leave the North American country in response to these tighter restrictions. These firms include OKX in March and Binance on May 12.
In the latest instance, Bybit has announced plans to pause operations in the country.
Bybit Walks Away From the Canadian Market
In a blog post on Tuesday, May 30, Bybit announced that it would be exiting the Canadian market, citing regulation changes.
"It has always been Bybit's primary objective to operate our business in compliance with all relevant rules and regulations in Canada. In light of recent...
