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Breaking: Binance Announces It is Departing From Canada

source-logo  tokenist.com 12 May 2023 16:16, UTC
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  • Binance, the world’s largest cryptocurrency exchange, announced it is leaving the Canadian market.
  • According to the post, recent changes in the regulatory landscape, particularly with regard to stablecoins and investor limits, have made remaining untenable.
  • While describing Canada as a minor market, Binance stated that it has high sentimental value for the company.
  • Last month, the decentralized exchange dYdX and the blockchain infrastructure platform Paxos also announced they are leaving Canada due to recent changes in the regulatory landscape.
  • On the other hand, Kraken and Gemini have reaffirmed their commitment to their Canadian users and have already taken the first steps to become compliant with the new rules.

This is a breaking story and will be updated as new details emerge.

tokenist.com