{"id":175409,"date":"2023-05-12T23:31:26","date_gmt":"2023-05-12T23:31:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175409"},"modified":"2023-05-12T23:31:26","modified_gmt":"2023-05-12T23:31:26","slug":"binance-set-to-leave-canadian-market-due-to-unfavorable-regulatory-landscape","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/binance-set-to-leave-canadian-market-due-to-unfavorable-regulatory-landscape\/","title":{"rendered":"Binance Set To Leave Canadian Market Due To Unfavorable Regulatory Landscape"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/05\/istockphoto-471101739-612x612-1.jpg\"><img alt='' src='https:\/\/secure.gravatar.com\/avatar\/535d61f1766a7180c97c97c9618887d5?s=50&#038;d=retro&#038;r=g' srcset='https:\/\/secure.gravatar.com\/avatar\/535d61f1766a7180c97c97c9618887d5?s=100&#038;d=retro&#038;r=g 2x' class='avatar avatar-50 photo' height='50' width='50' \/><\/p>\n<ul>\n<li>Binance has announced that it will wind down its operations in Canada.&nbsp;<\/li>\n<li>The crypto exchange cited Canada\u2019s challenging regulatory landscape for the decision to exit.&nbsp;<\/li>\n<li>Binance joins the likes of dYdX and OKX, which have decided to leave the Canadian market for similar reasons.&nbsp;<\/li>\n<\/ul>\n<p>The world\u2019s largest crypto exchange is set to exit the Canadian crypto market. Binance announced earlier today that it will be winding down its operation in Canada, citing the challenging regulatory environment created by the enhanced investor protection commitments that were introduced by the Canadian Securities Administrators.<\/p>\n<h2><strong>Binance: Canada Is No Longer A Tenable Market<\/strong><\/h2>\n<p>According to a recent tweet from Binance, the crypto exchange is proactively withdrawing from the Canadian marketplace. The tweet blamed Canada\u2019s new guidance related to stablecoins and investor limits published for crypto exchanges for the firm\u2019s decision to exit the country. The regulations reportedly made Canada untenable for the firm to operate in.\u00a0<\/p>\n<p>The crypto exchange stated that Canada was a relatively small market, but held sentimental value given that it is the home country of founder and CEO Changpeng Zhao. The exchange explored reasonable avenues to protect its Canadian users, but all efforts were futile. In the tweet, the exchange thanked the Canadian regulators who collaborated with the exchange to address regulatory concerns.\u00a0<\/p>\n<p>While we do not agree with the new guidance, we hope to continue to engage with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework.\u201d<\/p>\n<p>As for the exchange\u2019s Canadian customers, the tweet clarified that they received emails containing comprehensive information regarding the impact of the latest development. Binance is confident that it will return to Canada once its regulators allow citizens to access a broader range of digital assets. With its latest decision, Binance joins fellow crypto exchanges OKX and dYdX, which announced their intention to depart Canada earlier this year due to the shakeup in regulations.&nbsp;<\/p>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/binance-exit-canadian-market-regulations\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance has announced that it will wind<\/p>\n","protected":false},"author":3,"featured_media":175408,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Set To Leave Canadian Market Due To Unfavorable Regulatory Landscape - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/binance-set-to-leave-canadian-market-due-to-unfavorable-regulatory-landscape\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Set To Leave Canadian Market Due To Unfavorable Regulatory Landscape - 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