Those who choose to stay must follow stricter rules, including obtaining CSA approval before allowing users to purchase stablecoins or deposit funds into their accounts.
Binance announced its efforts to support Canadian users by exploring alternative options, but ultimately concluded that it was no longer “viable” to continue operations in the country. The stock market remains optimistic about returning to Canada in the future.
As a reminder, the Exchange was also subject to scrutiny in North America, where the US Department of Justice and Internal Revenue Service are investigating allegations of money laundering and violations of Russian sanctions.
Source: Ferra
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