Binance’s Withdrawal from Canada: What It Means for Crypto Business
What did Binance’s exit from Canada entail?
Binance’s departure from Canada stirred considerable concern within the crypto sector, primarily due to the reasons cited for their exit. They pointed to increasing regulatory scrutiny, particularly from the Ontario Securities Commission (OSC), as a factor that led to their decision. The OSC has tightened its grip on crypto businesses, raising questions about compliance with local laws and regulations.
Why did Binance feel compelled to leave?
The OSC has been investigating whether Binance was adhering to Canadian securities laws. More specifically, they were scrutinizing the classification of certain cryptocurrencies and services as securities, a significant issue for any platform operating…
