Cryptocurrency exchange Bitfinex starting from March 1, 2022, will no longer offer services to Ontario-based clients. The exchange wrote in a recent blog post that clients from Ontario are advised to "immediately start exiting" their positions in peer-to-peer financing markets.
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The exchange made several other changes as well:
- Ontario customers who do not have balances on Bitfinex will have their accounts closed.
- Ontario customers who do not have open positions in Bitfinex's peer-to-peer financing markets will no longer have access to those markets.
- Ontario customers who do not have open margin positions or borrowing positions in Bitfinex's peer-to-peer financing markets will no longer have access to open margin positions or engage in borrowing.
While the exchange did not clarify what is the reason behind the changes, it added that Ontario clients should withdraw funds on or before March 1, 2022. In August 2021, the Ontario Securities Commission listed tether (USDT) into its list of prohibited assets on registered cryptocurrency trading platforms. The limitations were imposed on Canadian firms Wealthsimple and Coinberry.
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