Canada

12 May 23

Binance pulls out of Canada, cites incompatibility with local market conditions

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On Friday, May 12, Binance announced its departure from the Canadian markets. Posting on Twitter, the world’s largest exchange by client count, attributed its decision to Canada’s new stablecoin guidance and investor limits for crypto exchanges. A stablecoin is a privately […]

08 May 23

Bank of Canada seeks public input on CBDC

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Bank of Canada has initiated an online public consultation to gather opinions on the characteristics of a digital Canadian dollar. The consultation, which started on May 13th, will remain open until June 19th. A rapid shift towards digital payments In recent […]

08 Apr 23

dYdX winds down Canada operations, more exchanges exit North America markets

The decentralized derivatives exchange, dYdX, announced on April 7 that it would no longer provide its services in Canada. As of April.7, the registration of new users was disabled. Current users can continue trading on the dYdX platform for the next week. After the April 14, they can only exit their current positions. However, withdrawals will […]

25 Mar 23

OKX to stop serving and accepting users from Canada

Crypto exchange OKX has announced that it will no longer serve users or accept new account requests from Canada. OKX to cease operations in Canada In an email on Mar. 24, OKX asked all its Canadian users to close any open positions in options, perpetual, all margined positions, and future by Jun. 22, 2023, 12:00 […]

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20 Mar 23

OKX plans to wind down business in Canada

Crypto exchange OKX emailed consumers in Canada that the company would no longer offer services or enable users to establish new accounts in the country. The rules will apply from March 24, 2023. The exchange cited new regulations as the reason for the shift. Withdrawals from OKX will continue to be accessible, the exchange noticed. 🔔 OKX […]

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23 Feb 23

Canada goes hard on algorithmic stablecoin issuers

Stablecoins backed by fiat currencies may be exempt from regulation provided their reserves are liquid and undergo monthly audits, according to Canadian watchdogs. This comes as s new report by the CSA reveals a new set of guidelines for crypto entities, most of which were directed to stablecoin issuers. The Canadian Securities Administrators, comprised of securities […]

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20 Dec 22

Bank of Canada cynical on crypto, plumps for stablecoin regulation

Bank of Canada (BOK) just released a statement on the need for regulating stablecoins pegged to a centralized fiat currency. One of the main reasons for this decision is the high demand for crypto assets in the North American country. The statement comes as the Canadian Securities Administrators (CSA) banned leverage (margin) trading last week. […]