Crypto Exchange Binance Confirms Shutdown in Ontario, Canada.
Binance has confirmed to Canadian regulators that it will no longer open new accounts for users in Ontario.
Crypto exchange Binance has confirmed to the Ontario Securities Commission (OSC) that it will no longer open accounts for new customers in the Canadian province of Ontario.
The industry’s largest exchange also committed to cease trading for existing Ontario-based accounts and will provide fee waivers and reimbursements to certain users.
I swear its hard to keep up with all these regulations changes! Imagine not hearing this news and not removing your tokens off exchange in time!
Great point @Norman and I am like @cryptostaceyb totally OK with it. Nevertheless, I’ll be glad to hear more from you about this at the Intercoin show on Wednesday.
Really interesting to see that technology is advancing to support crypto communities.
Yeah and to be honest centralized exchanges are largely against the spirit of crypto in the first place. We only used them because there was no better alternative. People have to suffer through exchange hacks, being locked out of their account, sim swaps, trading fees, phishing attacks, and all kinds of other problems. The exchanges had their role for sure, but I hope gradually we phase them out and realize the dream of a decentralized and PERMISSIONLESS(!) future
That’s why we always say never to store crypto on exchanges and to make sure they are in a non custodial wallet far away from exchanges. I feel like more regulations are coming in the near future especially with all the inflation and war going on. The governments are going to look for a way to screw the middle/lower class even more.
Exactly, people have been getting REKT since the days of MtGox(!). The biggest bottleneck right now is fiat on ramps, i.e. converting crypto to fiat and back. Once you are in crypto, much easier to avoid using CEXes
