Following ongoing regulatory issues within the country, Binance has decided to effectively withdraw from the Canadian market.
On Friday evening, the cryptocurrency exchange announced that it will begin terminating its services to Canadian users. Blaming new government guidelines provided to exchanges, Binance said the Canadian market was no longer tenable.
Canadian Guidelines Not Crypto-Friendly
The statement said that Binance hopes to engage in a dialogue with Canadian regulators going forward. It added that:
“we are confident that we will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets.”
The guidelines in question were issued by the Canadian Securities Administrators (CSA) in February. Posited as investor protection provisions following a run of crypto sector insolvencies in 2022. The guidelines target offshore companies like Binance that service…
