Binance leaves Canada due to stricter crypto rules
In its announcement, Binance said it put off the decision as long as it could"to explore other reasonable avenues to protect [its] Canadian users." Indeed,says its Canadian affiliate filed paperwork to begin its registration process in March. But in the end, it had decided that continuing its operations in the country is"no longer tenable."
Binance ended its announcement with a note saying it's confident it will return to Canada, it's CEO Changpeng Zhao's home country, someday. It also said it hopes to continue engaging with Canadian authorities when it comes to forming a"thoughtful, comprehensive regulatory framework." Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace.
We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users.…
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