Binance Joins Exchange Exodus From Canada, Binance Canada in the Works?

  1. Binance has announced its departure from Canada, citing rules on stablecoin and investor limits.
  2. Some are suggesting Binance create a separate entity similar to Binance US.
  3. Crypto exchanges that left Canada include OKX, dYdX, and Paxos.

Binance has announced its exit from Canada following other crypto exchanges’ exodus. The reason, as per Binance’s latest post, is that the new rules that Canadian regulators are putting in place make it difficult for the exchange to operate in a ‘tenable’ manner.

As seen in the tweet above, the new rules that Binance finds distasteful pertain to stablecoins and investor limits. Despite the imposition, the exchange said that it explored all avenues to continue serving what it called a small market especially since CEO Changpeng Zhao (CZ) is a Canadian citizen.

Binance is not closing its doors to Canada, however. The exchange is still open to returning to Canadian shores once it has come up with a feasible plan, as per the post.

Meanwhile, others are encouraging Binance to replicate what it is doing in the US. Specifically, Binance has a separate exchange entity — Binance US. 

Prior to Binance, other exchanges that withdrew from Canada are OKX, Paxos, and dYdX. However, some are still able to comply with Canada’s strict impositions, including Coinbase,, and Kraken.

Read Also :

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.