Binance is exiting the country, citing new rules governing stablecoins and investor limits
Binance, the world’s largest cryptocurrency exchange by volume, announced in a tweet on Friday its intention to cease operations in Canada. The exchange cited a new set of regulations governing the crypto industry in Canada, which complicates its operations in the country.
“Today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace… We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time,” Binance tweeted.
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