Binance, one of the world's largest cryptocurrency exchanges, has announced its withdrawal from the Canadian market. The move comes as a result of new guidance related to stablecoins and investor limits provided to crypto exchanges, making the Canadian market "no longer tenable" for Binance at this time.

In a tweet, the company thanked regulators who had worked with them collaboratively to address the needs of Canadian users, saying that "albeit a small market, it held sentimental value for us as the home country of our founder". However, the company stated that it had put off the decision to withdraw for as long as possible to explore other reasonable avenues to protect its Canadian users, but had ultimately been left with no choice.

Binance's remaining Canadian users are receiving an email with comprehensive information on how this will impact their accounts going forward. Despite not agreeing with the new guidance, the company hopes to continue engaging with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework. 

Binance is confident that it will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets.

What is Binance:

Binance is the world's leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.

Where to find Binance:

Website | Twitter | Discord | Telegram |