2023-05-13 03:42:24
The founder of the cryptocurrency exchange Binance, CZ, is a Canadian. Today, Binance tweeted that it will withdraw from the Canadian market. The reason is that the CSA guidelines in February this year were too strict. “Emotional value”.
(Recap:Archyde.com: Binance received “ISIS terrorism black money” in Israel’s capture, Binance refuted everything in compliance）
(background supplement:FTX raised 420 million US dollars last year “300 million into SBF’s pocket”!Canada Teachers’ Pension Fund suffers）
nowIn the early hours of the 20th, the cryptocurrency exchange Binance releasedtweetsAnnounced its withdrawal from the Canadian market on the grounds that Canada’s guidelines for cryptocurrency exchanges are too strict. The text also pointed out Binance’s helplessness in withdrawing from the Canadian market. Because the founder of Binance, CZ, is a Canadian, he has high expectations for the Canadian blockchain industry. Canada has “emotional value” for Binance.
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.…
— Binance (@binance) May 12, 2023
New Canadian Guidance Sets Binance Back
In February of this year, the Canadian Securities Administration (CSA) announced new guidelines. All encrypted asset trading platforms in Canada need to be approved by the CSA in advance before allowing users to purchase or deposit stable coins. The premise of approval is that the platform must Through various due diligence of CSA, Binance also expressed its position in this tweet:
We have high expectations for the blockchain industry in Canada. However, new guidelines related to stablecoins and investor restrictions make the Canadian market no longer viable for Binance at this time. While we disagree with these new guidelines, we hope to continue our engagement with Canadian regulators with a view to arriving at a thoughtful and comprehensive regulatory framework.
In the future, Binance stated that it will send an email to the remaining Canadian users, detailing how their accounts will be handled after Binance exits Canada. Binance is also confident that it will be able to return to the Canadian market in the future.
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