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.
Read CRYPTONEWSLAND onAs 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, Crypto.com, and Kraken.
Investor's impulsive #FOMO decisions costs 239 #SOL and a long-term $36,000 profit, always practice patience…
Milan, Italy, May 7th, 2024, ChainwireCryptocurrency casino platform TG.Casino and iconic Italian football team AC…
🚀 Bitcoin Runes Protocol takes the lead in BTC transactions! 🌐 From halving to dominance,…
GSR and EMURGO team up to enhance Cardano's ecosystem with liquidity and market-making support, aiming…
Within the ever-evolving landscape of cryptocurrency, new contenders frequently emerge, aiming to capture the attention…
With the 2024 bull run commencing, the focus turns to these potential market leaders for…