Bitstamp crypto exchange hopes to return to Canada after halting operations early next year, Bitstamp US CEO Bobby Zagotta said.
Bitstamp’s decision to discontinue operations in Canada is “primarily a timing issue” related to the firm’s expansion priorities, Bitstamp U.S. CEO said.Cryptocurrency exchange Bitstamp hopes to return to Canada after halting operations early next year, according to Bitstamp U.S. CEO and global chief commercial officer Bobby Zagotta.
As a result of the service termination, all Canada accounts on Bitstamp will be closed and customers will no longer have access to their accounts. Bitstamp has strongly recommended its Canadian customers withdraw their funds by January 2024, also urging the clients to deactivate their Bitstamp accounts.
Bitstamp’s decision to discontinue operations in Canada is “primarily a timing issue” related to the company’s current expansion priorities, Bitstamp U.S. CEO told Cointelegraph. The exchange is exiting the Canadian market to refocus on regions where Bitstamp can align “more effectively” with local regulations, Zagotta said, adding:
Zagotta emphasized that Bitstamp remains committed to serving its global user base, and any decisions regarding its presence in specific countries would likely depend on evolving regulatory environments and market conditions.
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