JUST IN: Coinbase Halts Trading of USDT and Two Other Stablecoins in Canada - Is This the Source of BTC's Recent Decline?

Cryptocurrency exchange Coinbase has suspended the trading of USDT, DAI and RAI for its Canadian-based users, Cointelegraph reported.

According to an email notification sent to users on August 17, Coinbase said it regularly reviews assets on its platform to ensure they meet listing standards, and based on its assessment, it has decided to stop offering trading services for USDT, DAI, and RAI in Canada.

The exchange did not provide a specific reason for its decision, but said it was related to the ongoing registration process in Canada. Coinbase stated in its statement:

“Coinbase Canada has applied for registration in certain Canadian territories but has not yet received registration. Coinbase Canada has agreed to abide by the terms of an undertaking until it is registered.”

The BTC price had a sudden drop about two hours ago.

*Not investment advice.