Binance Announces Exit from Canada, Citing Regulatory Tensions

Crypto exchange Binance has announced that it would cease operations in Canada, citing the challenging regulatory environment. In February, the Canadian Securities Administrators (CSA) published new guidance that prohibited crypto asset trading platforms within the country from allowing customers to buy or deposit stablecoins without the CSA’s prior approval. Obtaining approval would require the crypto trading platform to pass the CSA’s various due diligence checks. Over the past year, Binance has received increased scrutiny from North American regulators, and appears to be ramping down operations in the region.

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