Cryptocurrency exchange Binance has ceased trading in existing Ontario accounts, with exceptions to protect investors, along with winding down its business in certain products.
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According to a document filed by Binance to the Ontario Securities Commission, the exchange acknowledged that it had decided to withdraw its services from Ontario, which means it could no longer service them. Binance said it will also continue to prevent Ontario users from opening accounts on its platform.
In December last year, the Ontario Securities Commission released a statement saying that Binance cannot offer services in the region as it is not registered with the local regulators. Binance, in turn, said that it was performing "positive cooperation with Canadian regulators."
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