The cryptocurrency exchange Binance has decided to withdraw from the Canadian market, according to an announcement made on Friday.
Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Friday that it is “proactively withdrawing from the Canadian market.” The company thanked the regulators who worked with them and said that the Canadian market was “small.”decided to withdraw
from the Canadian market. The company noted that it was the home country of its founder and cited regulatory guidance as the reason for its decision. Binance claims that the new regulatory climate in Canada makes it less feasible for its digital currency business to operate in the country. “Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace,” Binance tweeted on Friday. The trading platform’s social media account added:
Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time. We put off this decision as long as we could to explore other reasonable avenues to protect our Canadian users, but it has become apparent that there are none.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance Will Reduce the Processing Time for ETH Staking Withdrawals | Binance SupportThis is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Following feedback from the community, Binance will reduce the process...
Read more »
Binance P2P: Important Do’s and Don’ts to Avoid Getting Blacklisted | Binance BlogKeeping our users safe is a top priority at Binance. On Binance P2P, we've created a set of guidelines that we hope users follow to ensure a better user experience that is secure, fair, and safe. Learn more about these guidelines below.
Read more »
Breaking: Binance Quits Canada. Here's WhyIn a surprise move, Binance has announced its withdrawal from the Canadian market
Read more »
Binance looks to the UK for regulation amid US crypto crackdownBinance’s chief strategy officer expressed commitment to doing everything they possibly can to be regulated in the United Kingdom.
Read more »
Locked Ethereum Hits ATH; CZ of Binance Believes This Is BullishHead of Binance has dropped bullish hint at recent Ethereum ATH by this metric
Read more »
Binance Makes Important Announcement on Ethereum (ETH) Staking WithdrawalsEthereum (ETH) staking withdrawals: Binance shares key update ETH $ETH
Read more »