Binance announced Friday that all Ontario-based users must close out all active positions by December 31 2021. Binances departure from Ontario raises Canadian income-tax issues for Ontarians who must close their cryptocurrency-exchange accounts with Binance.
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The crypto exchange announced users will have to withdraw all funds by December 31 2021.
. 1 day agoBinance had told users in June it would be pulling out of Canadas most populous province following actions by the Ontario Securities Commission OSC against other crypto exchanges accusing. CALGARY Binance was reprimanded by the Ontario Securities Commission OSC for telling users of its cryptocurrency trading platform that it was allowed to continue operations in Canada when it still lacks a registration to do so. Binance Resumes Ontario Operations.
Just the day before the previously mentioned deadline Binance notified its users about successful talks with Canadas regulatory watchdogs. 18 hours agoThe Ontario Securities Commission is warning investors that cryptocurrency platform Binance one of the worlds largest is unregistered in Ontario meaning its not authorized to sell. Binances departure from Ontario raises Canadian income-tax issues for Ontarians who must close their.
As a result of the OSC crackdown other platforms such as Huobi and Bitfinex are also pulling out of Ontario. Binance No Longer Serving Ontario Canada Markets. Binance lists Ontario as restricted jurisdiction citing compliance efforts.
Binance has ceased operations in Ontario after the Ontario Securities Commission OSC accused three other crypto exchanges of failure to comply with Ontarios Securities Act. 5 hours agoThe Binance cryptocurrency exchange platform is currently facing regulatory scrutiny from the Ontario market regulator. To comply with legislation put in place in Ontario Binance stated on Friday that all users registered in the province must close out any open positions.
Binance seemingly opted to pull out of the Ontario market altogether rather than comply with securities law or face regulatory scrutiny. Bloomberg -- Binance was reprimanded by the Ontario Securities Commission for telling users of its cryptocurrency trading platform that it was allowed to continue operations in Canada when it. This is unacceptable the OSC said in a statement on.
The worlds largest crypto exchange Binance exchange has stopped serving users in Ontario Canada. Binance is the worlds largest crypto exchange. It operates in Canada but not in Ontario.
Arguably the worlds biggest cryptocurrency exchange Binance is in the news today after it advised its users in Ontario Canada to close out all active positions by the end of this year. Regulators cracked down on the exchange in the summer of 2021 and the exchange has hopped around the world for years in what has become known as a. Binance is no longer open for business in Canadas most populous province apparently choosing to close shop rather than meet the fate of other cryptocurrency exchanges that have had actions filed.
The Ontario Securities Commission has reprimanded the exchange giant for. Binance seemingly opted to pull out of the Ontario market altogether rather than comply with securities law or face regulatory scrutiny. Digital asset exchange Binance will reportedly stop offering services in Ontario Canada after the local government decided to launch.
Binance has withdrawn from the province of Ontario where it previously operated as an exchange due to increasing regulation. 14 hours agoBinance was reprimanded by the Ontario Securities Commission for telling users of its cryptocurrency trading platform that it was allowed to continue operations in. However the question of whether Binance the worlds largest cryptocurrency exchange is legal anywhere remains a matter of confusion.
Its unfortunate that Binance is facing a ban in Ontario. Binance had earlier revealed that Ontario had become a restricted jurisdiction and that users may have to close their accounts by the 31st of December 2021. However in a recent message to users Binance said it has been successful in taking its first steps on the regulatory path by registering in Canada and claimed that the registration allowed the company to continue its operations in Canada.
Crypto exchange operator Binance is exiting the Canadian province of Ontario amid a regulatory crackdown there. Binance had told OSC staff that no new transactions involving Ontario residents would take place after December 31 2021. 4 hours agoBinance was reprimanded by the Ontario Securities Commission for telling users of its cryptocurrency trading platform that it was allowed to continue operations in Canada when it.
The firm quit the state on Friday June 26 2021. As per the official announcement released by Binance. Rather than comply or have actions filed against them Binance.
The firm however did not give reasons why it quit Ontario as it announced on Thursday that Ontario-based users must close all active positions by December 31 2021. 19 hours agoBinance rebuked by Ontario with registration still pending. 1 day agoBinance has ceased operations in Canadas most populous province ostensibly to avoid following in the footsteps of other cryptocurrency exchanges that have faced legal action for allegedly failing to comply with Ontario securities laws.
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