In March, the cryptocurrency exchange OKX announced the temporary cessation of service to Canadian users.
The company’s press service reported that the decision to suspend operations was due to the tightening of the country’s government policy. On June 22, OKX promises to resume services to traders.
Last week, the exchange Binance also reported the cessation of operations in the Canadian market.
At the same time, the trading platform stressed that it had decided to leave the country entirely because of the complex regulatory framework imposed by local regulators as part of a policy to protect investors.
Binance’s blog says that strict legislation is forcing the exchange to leave the country. In addition, the volume of digital currency transactions in Canada is small, and the company does not intend to adjust to the standards set by regulators.
The exchange will return to Canada if the authorities make the legislation more comfortable for the blockchain industry.
Binance’s press office stressed: “We oppose the policies of Canadian regulators, but will work with them to help implement a reasonable regulatory framework.”