{"id":393597,"date":"2023-05-13T07:17:27","date_gmt":"2023-05-13T07:17:27","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=393597"},"modified":"2023-05-13T07:17:27","modified_gmt":"2023-05-13T07:17:27","slug":"binance-leaves-canada-in-the-face-of-new-cryptocurrency-restrictions","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/binance-leaves-canada-in-the-face-of-new-cryptocurrency-restrictions","title":{"rendered":"Binance leaves Canada in the face of new cryptocurrency restrictions"},"content":{"rendered":"

Only weeks after the nation established a number of new rules for cryptocurrency exchanges, including investor limitations and required registrations, Binance said on Friday that it was leaving Canada.<\/p>\n

With the establishment of a pre-registration procedure, Canada has recently tightened laws for sites that trade crypto assets<\/a>. The Ontario Securities Commission’s website states that companies that break the laws may be subject to enforcement action.<\/p>\n

Cryptocurrency<\/a> exchange Binance stated in a tweet:<\/p>\n

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Unfortunately, (the) new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market not longer tenable for Binance<\/a> at this time.<\/p>\n<\/blockquote>\n

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Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace.<\/p>\n

We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users.…<\/p>\n

— Binance (@binance) May 12, 2023<\/a><\/p><\/blockquote>\n