Bitcoin (BTC) and cryptocurrencies Increasing adoption has prompted some countries to introduce regulatory rules for cryptocurrencies.
Some of these countries have set more crypto-friendly rules, while others have chosen to set stricter rules. One of these countries was Canada.
These Canadian rules put the stock markets in trouble. In this context, it is one of the world’s largest stock exchanges by trade volume. Crypto.com For Canadian users Tether (USDT) He announced that he had delisted.
While giving the delist news of USDT in an e-mail sent to the exchange customers, he stated that they took this decision in line with the instructions from the Ontario Securities Commission (OSC).
“Crypto.com has delisted USDT for users in Canada” per instructions from the Ontario Securities Commission (OSC) as part of our pre-registration commitment for a limited-seller license.
All USDT trading pairs, transactions, deposits and withdrawals will be delisted by January 31st at 1pm ET.
All USDT user deposits remaining on the exchange after this date will be converted to USDC issued by Circle.”
In August 2022, Crypto.com announced that it had accepted a pre-registration commitment from the Ontario Securities and Exchange Commission for its operations in Canada.
As part of regulatory requirements, cryptocurrency exchanges operating in the Canadian province of Ontario were prohibited from listing certain digital assets. Among these prohibited entities Tether (USDT) is also included.
In the face of this regulatory framework, exchanges must first register with the IIROC in order to operate in Canada.
Outside of Crypto.com Binance, Bybit and Huobi Like crypto exchanges, they have previously had some issues with the OSC under regulatory rules.
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