Binance Says "Bye" To Canada
The Breakdown
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Binance's Pre-Registration Undertaking
Binance had been among the group of exchanges seeking to engage with regulators and obtain registration. Stablecoin issuer Paxos and DeFi derivatives exchange, DyDX, pulled out of the Canadian market in February. Kraken signed a pre-registration undertaking on March 30th as a step towards compliance with national guidance. Both Coinbase and Crypto.com have no issues with the requirements. Dozens of Canadian-owned exchanges have no issue with it either.
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