Binance will stop serving Ontario (Canada) users

Casino exchange Binance has officially announced that it will no longer be able to continue serving users from Ontario, Canada:

As part of our ongoing compliance efforts, Binance has updated its Terms of Use to note that, Ontario (Canada) has become a restricted jurisdiction effective 2021-06-26 at 3:59:59 am (UTC). Unfortunately, Binance can no longer continue to serve Ontario users. Ontario users are advised to take immediate action to close all active positions by December 31, 2021.

We apologize for any inconvenience caused.

Thank you for your support!

Binance has listed the region as a restricted jurisdiction, citing compliance activities. Ontario users have been advised by the exchange to close all active positions by December 31, 2021 and stop using Binance.com services.

Not often, Binance.com itself decides to leave a particular region - South Korea and Uganda. Usually, not having a license for financial activity - the exchange leaves the region after the statements of the financial regulator or with the next ban, as it was in China, the United States, Japan and even Malta. Some countries like Brazil, Malaysia, Hong Kong and Japan and Liechtenstein have long banned Binance activities - but Binance Holdings Ltd (Binance.com) illegally and clandestinely continues to serve users from banned jurisdictions, even ... US users are served by Binance via the FTX exchange or through Binance Broker Program partners.

The Ontario Securities Commission (OSC) in Canada issued a statement that digital asset trading companies are required to register as investment dealers, without exception. After that, there were allegations against cryptocurrency exchanges - Poloniex and Kucoin, the next exchange to which a formal lawsuit could come would be Binance. Perhaps such a lawsuit from the Ontario Securities Commission (OSC) against Binance has already been filed, but publicly this fact is unknown

28.06.21

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