"Unfortunately, (the) new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time," crypto exchange Binance said in a tweet.īinance said it does not agree with the latest guidance and hopes to engage with the Canadian regulators to create a comprehensive framework for crypto operations in the country. The companies that do not adhere to the rules will face potential enforcement action, according to the website of the Ontario Securities Commission. May 12 (Reuters) - Binance said on Friday it was withdrawing from Canada, weeks after the country issued a series of new guidelines for cryptocurrency exchanges including investor limits and mandatory registrations.Ĭanada has tightened regulations for crypto asset trading platforms in recent months, with the introduction of a pre-registration process.
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