Binance Shuts Down Ontario Users From Its Platform – Will It Restrict Other C...
Binance has bid Ontario adios. The dispute between cryptocurrency exchange Binance and Ontario’s financial regulator has concluded, with the company formally agreeing to cease operations in the Canadian province. The conflict between Binance, the world’s largest cryptocurrency exchange (by trading volume), and the Ontario Securities Commission began in June 2021, when the exchange announced its […]
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The Ontario Securities Commission (OSC) claims that Binance has rescinded its commitment to comply with previously agreed requirements. The crypto exchange told the regulator that there would be no new transactions involving Ontario residents after Dec. 31. However, Binance recently informed its Ontario users that they no longer have to close their accounts by year-end.
OSC Says Binance’s Action Is ‘Unacceptable’
Cryptocurrency exchange Binance got into trouble with the Ontario Securities Commission (OSC) Thursday. Binance notified its users in June that....
Ontario's crypto exchange crackdown continues as Binance plans to end operations Dec. 31, 20201. On the tails of a warning from Japanese regulators on Friday, Binance has announced in a short statement yesterday that it will cease providing services to users located in Ontario. “As part of our continuing compliance efforts, Binance has updated its Terms of Use to provide that Ontario (Canada) has become a restricted jurisdiction, effective 2021-06-26 at 3:59:59 AM (UTC). Regrettably, Binance can no longer continue to service Ontario-based users. Ontario-based users are advised to take....
The crypto exchange admitted to operating in the province without registration after saying it would stop. Binance confirmed in an undertaking to the Ontario Securities Commission, or OSC, in Canada dated Wednesday that the crypto exchange will cease activities involving Ontario residents. Binance will also stop opening new Ontario accounts, and provide fee waivers and reimbursements to certain Ontario users under the administration of a third party, the company said. The undertaking appears to mark the end of a disagreement that started in June when Binance announced that it would no....
Cryptocurrency exchange Binance has informed the Ontario Securities Commission (OSC) that it is committed to ceasing opening new accounts for Ontario residents and winding down certain services to comply with regulations.
Binance Promises to Increase Efforts to Comply With Regulation
Cryptocurrency exchange Binance sent a letter to the Ontario Securities Commission (OSC) Wednesday.
In the letter, Binance listed a few commitments to the OSC, including “ceasing opening new Ontario accounts,” “ceasing trading in existing Ontario accounts, with....
Cryptocurrency exchange Binance will no longer provide services in the Canadian province of Ontario. The decision comes amid ongoing regulatory pressure on digital asset trading platforms that has already affected the operations of several exchanges. Crypto Exchange Binance Exits Canada’s Ontario Binance, which is one of the world’s leading cryptocurrency exchanges by daily volume, has updated customers on a change that concerns crypto traders in Ontario. The Canadian province is now a restricted jurisdiction, the company announced this week. In a press release, Binance....