Binance has marked the end of its operation in Canada.
Due to strict crypto rules, Binance announced via a tweet that it was compelled to exit the country.
In December 2022, the Canadian Securities Administrators (CSA) provided a notice categorizing stablecoins as securities and/or derivatives.
As a result, some restrictions added on regulated crypto exchanges in Canada, blocking them from providing services involving stablecoins.
Additionally, the regulatory authority in Ontario has forced a requirement for all crypto exchanges operating in the country to undertake registration.
Read more: FCA: New crackdown on unregistered crypto ATMs | Brokers Times
