Binance, a prominent blockchain and cryptocurrency platform, has stated that it is leaving the Canada market owing to the country’s new stablecoin and investment restrictions.
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The company tweeted, “We are announcing that Binance will be joining other notable crypto businesses in proactively withdrawing from the Canadian market.”
The Canadian Securities Administrators (CSA), according to CoinDesk, published new guidance in February that forbids crypto asset trading platforms in the nation from allowing users to acquire or deposit stablecoins without first receiving CSA clearance.