Binance to Exit Canada as Regulators Push for New Crypto Rules

Binance, the world’s biggest crypto exchange, said it will exit Canada after the country moved to impose new regulations on digital-currency trading platforms.

In a tweet Friday, Binance said new guidance for crypto exchanges in Canada related to stablecoins and investor limits has made the market “no longer tenable” for the company.

The Binance logo.

Photographer: Gabby Jones/Bloomberg

The decision reflects a reversal of the firm’s earlier move.

Back in March, its Canadian affiliate filed paperwork to commit to registration. Some other firms — including Coinbase Global Inc., Kraken and Gemini — have signaled their intention to pursue registrations in the country.

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