Binance, the world’s largest cryptocurrency exchange, ceases operations in the Canadian province of Ontario.
Binance announced in a letter to the Ontario Securities Commission (OSC) last week that it will no longer operate in the region. The company, the people of Ontario won’t let them open an account and certain Ontario customers exemptions, reimbursements He stated he would.
Cryptocurrency exchange customers advised him to close his trades and by OSC 90 days period Said it was given.
In June 2021, Binance will launch in Ontario. will not serve allegations had been made. This statement was may arise from disagreements. is being considered.
At the end of last year, Binance users were allowed in the state, even if they did not register. are allowed to operate said but OSC did not from their official accounts on the same day. denied.
It is said that Binance continues to serve even though its transactions were restricted on January 1.
OSC made a statement on its official site, that the Ontario securities law all past, present and future violations to Binance they can sue stated.
Ontario regulators are known for their stance towards crypto exchanges. The institution has recently Bitfinex, OKX, Bybit, KuCoin and Polo Digital Assets He stated that sanctions could be applied against many stock exchanges, including. Also, OSC It banned Tether (USDT) in August last year.