On Friday, the company announced on Twitter that it had high hopes for the Canadian blockchain industry, but new requirements and limits for crypto exchange investors make the Canadian market unacceptable for Binance.
The crypto exchange expressed its dissatisfaction with the rules introduced, but hopes to cooperate with Canadian regulators to further develop a regulatory framework for cryptocurrencies.
In February of this year, the Securities Authority of Canada (CSA) published new guidance. According to the requirements, cryptocurrency trading platforms are prohibited from buying and selling stablecoins without the prior approval of the CSA. You can get approval after passing a number of checks.
Over the past year, Binance has been subjected to increased control by regulatory authorities in North America, and therefore ceases operations in this region.
Earlier, Binance reported that it was considering severing relations with its business partners in the United States.