Investing
Breaking: Binance Announces It Is Departing From Canada
May 12, 2023 10:11 pm
Last Updated: May 15, 2023 11:43 am
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 article originally appeared on The Tokenist
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