Bybit and Binance have announced exiting the Canadian market.
OmegaStarScream shared this a while back
So with the new regulations regarding exchanges[1] in Canada, it looks like many platforms are shutting down their services in the country. To mention a few:
- DyDx[1] (DEX)
- OKX[2] (CEX)
- Paxos[3]
I've also seen mentions of Deribit and Blockchain.com in some other articles.
What are your thoughts on this? Do you think this is actually necessary to avoid another FTX-scenario?
[1] https://www.securities-administrators.ca/news/canadian-securities-regulators-strengthen-oversight-enhance-expectations-of-crypto-asset-trading-platforms-operating-in-canada/
[2] https://www.cryptotimes.io/decentralized-exchange-dydx-pulls-out-of-canadian-market/
[3] https://cointelegraph.com/news/okx-to-cease-operations-in-canada-by-june-22-2023
[4] https://coingeek.com/paxos-exits-canada-amid-increasing-regulatory-crackdown/
- DyDx[1] (DEX)
- OKX[2] (CEX)
- Paxos[3]
I've also seen mentions of Deribit and Blockchain.com in some other articles.
What are your thoughts on this? Do you think this is actually necessary to avoid another FTX-scenario?
[1] https://www.securities-administrators.ca/news/canadian-securities-regulators-strengthen-oversight-enhance-expectations-of-crypto-asset-trading-platforms-operating-in-canada/
[2] https://www.cryptotimes.io/decentralized-exchange-dydx-pulls-out-of-canadian-market/
[3] https://cointelegraph.com/news/okx-to-cease-operations-in-canada-by-june-22-2023
[4] https://coingeek.com/paxos-exits-canada-amid-increasing-regulatory-crackdown/
They are even going after exchanges that try to promote self-custody wallets. Those guys are just nuts Regulator in Canada Warns Crypto Exchanges Not to Promote Self-Custodial Wallets
