{"id":324913,"date":"2023-05-12T20:53:38","date_gmt":"2023-05-12T19:53:38","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=324913"},"modified":"2023-05-13T01:27:31","modified_gmt":"2023-05-13T00:27:31","slug":"binance-halts-operations-in-canada","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-halts-operations-in-canada\/","title":{"rendered":"Binance halting operations in Canada"},"content":{"rendered":"<p>Binance said in a <a href=\"https:\/\/twitter.com\/binance\/status\/1657099651210969088\">May 12<\/a> tweet that it would be halting operations in Canada.<\/p>\n<p>The cryptocurrency exchange said that it is joining other crypto companies who are &#8220;proactively withdrawing from the Canadian marketplace.&#8221;<\/p>\n<p>Binance said that Canada was a small market that carried &#8220;sentimental value&#8221; and added that it was optimistic about the development of the country's crypto sector.<\/p>\n<p>However, the company explained that recent regulatory guidance in Canada made operating in the country unfeasible and said that it delayed its departure for as long as possible.<\/p>\n<p>Binance said it does not agree with the new guidance but intends to continue engaging with Canadian regulators and eventually return to the market\u00a0 &#8220;when Canadian users once again have the freedom to access a broader suite of digital assets.&#8221;<\/p>\n<h2>Canadaian crypto exdus<\/h2>\n<p>In February, Canadian securities regulators <a href=\"https:\/\/cryptoslate.com\/canada-requires-crypto-exchanges-to-pre-register-within-30-days\/\">established new guidance<\/a> requiring crypto companies to submit pre-registration filings and follow certain rules.<\/p>\n<p>Specifically, crypto companies operating in Canada are now required to segregate funds belonging to Canadian users and withhold margin or leverage trading from those users.<\/p>\n<p>Other crypto companies that have withdrawn their services from the Canadian market include <a href=\"https:\/\/cryptoslate.com\/paxos-becomes-latest-crypto-company-to-end-services-in-canada\/\">Paxos<\/a>, <a href=\"https:\/\/cryptoslate.com\/derivatives-exchange-dydx-to-discontinue-canadian-services\/\">dYdX<\/a>, Blockchain.com, and OKX.<\/p>\n<p><a href=\"https:\/\/cryptoslate.com\/coinbase-kraken-plan-to-continue-operating-in-canada-as-regulatory-rules-change\/\">Kraken, Coinbase, Crypto.com<\/a>, and <a href=\"https:\/\/cryptoslate.com\/gemini-submits-filing-to-stay-open-in-canada\/\">Gemini<\/a> intend to continue operating in Canada.<\/p>\n<div id=\"USE_CHAT_GPT_AI_ROOT\" style=\"display: none; z-index: -1; position: absolute; top: -10000px; left: -10000px; width: 1px; height: 1px; overflow: hidden; opacity: 0; pointer-events: none;\">usechatgpt init success<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Binance said in a May 12 tweet that it would be halting operations in Canada. The cryptocurrency exchange said that it is joining other crypto companies who are &#8220;proactively withdrawing from the Canadian marketplace.&#8221; Binance said that Canada was a small market that carried &#8220;sentimental value&#8221; and added that it was optimistic about the development [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":325014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,77968],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance halting operations in Canada<\/title>\n<meta name=\"description\" content=\"Binance said that it would halt operations in Canada in a tweet on May 12.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-halts-operations-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance halting operations in Canada\" \/>\n<meta property=\"og:description\" content=\"Binance said that it would halt operations in Canada in a tweet on May 12.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/binance-halts-operations-in-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T19:53:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-13T00:27:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/canada-binance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mike Dalton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mike Dalton\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/binance-halts-operations-in-canada\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/binance-halts-operations-in-canada\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#person\",\"name\":\"Mike Dalton\",\"url\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"caption\":\"Mike Dalton\"},\"jobTitle\":\"Former Journalist\",\"description\":\"Before transitioning to crypto writing in 2018, Mike studied library and information sciences. 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