Binance halting operations in Canada
This is obviously all over the crypto news feeds.
Specifically, crypto companies operating in Canada are now required to segregate funds belonging to Canadian users and withhold margin or leverage trading from those users.
But worse,
Exchanges will also have to stop offering stablecoins until written consent is secured from the CSA.
That means the only trading pairs would be between other cryptos, usually priced against BTC, thereby making such prices even more volatile. Having crippled BUSD, it is not very surprising that Binance has thrown in the towel, at least for now.
Other crypto companies that have withdrawn their services from the Canadian market include Paxos, dYdX, Blockchain.com, and OKX.
Kraken, Coinbase, Crypto.com, and Gemini intend to continue operating in Canada.
forgot to add the tweet-storm
enjoy!
I'm no fan of Binance, but their struggles highlight the obvious bias of captured regulators. As always, retail comes bottom - and will always come bottom - that's the plan. No freedom of choice or self-sovereignty.
and this also true for custodial CEXs - they don't want to regulate so as not to legitimise them - destroy them first, then have bankster tradfi funnel the retail money.