Delists Tether's USDT for Canadian Market
Main page News, Canada, Tether, Stablecoins, Regulations has suspended support for Tether's stablecoin USDT in its App for Canadian market.

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According to a screenshot of an email sent by the company, will suspend support for USDT on Jan. 31. The company added that all remaining USDT balances will be automatically converted to Circle's USD Coin (USDC). It is unclear, why decided to delist USDT only, leaving other stablecoins available for users in Canada.

A spokesperson for told Decrypt in a commentary that the company delisted USDT for users in Canada "in accordance with instructions from the Ontario Securities Commission (OSC) as part of our pre-registration undertaking for a restricted dealer license."

Canada Prohibits Crypto Leverage, Requires Trading Firms to Segregate Customers' Funds

In November 2022, Bloomberg reported that the Justice Department re-launched a probe against Tether. Despite the news, no official charges have been filed against Tether. Tether said in an official statement that Bloomberg "has proven themselves time and time again to be desperate for attention in an industry that they just do not understand."

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