Is Binance legal in Canada? Binance is leaving Ontario: What it means for Cryptocurrency in Canada 👋Join Coinsquare
You’ve probably heard by now that Binance announced it will no longer be serving clients in Ontario after December 31st, 2021. This has left many Canadians confused, wondering if Binance will still be legal everywhere else in Canada and for how much longer.
What’s next for Binance and Crypto in Canada?
Binance has advised Ontario users to “take immediate measures to close out all active positions.” Other exchanges such as Bybit, Poloniex, and KuCoin have received a warning from the Ontario Securities Commission for failing to comply with the province’s securities laws.
Canadian regulators have been providing guidelines that all crypto trading platforms with Canadian clients must comply with. These guidelines maintain the balance between the interests of the Canadian capital markets and encourage investor protection. We shared our thoughts on Canadian crypto regulation with CoinTelegraph – you can read all about it here.
How to withdraw from Binance?
- Create a Quick Trade account in order to get a crypto deposit address
- Withdraw your crypto from your Binance wallet to your Quick Trade wallet
At Coinsquare, we do cryptocurrency right
Thanks to your continued trust in our offering, Coinsquare remains one of Canada’s largest crypto trading platforms for trading Bitcoin, Ethereum, DOGE, and other cryptocurrencies. Coinsquare is committed to providing a safe, secure, and compliant trading platform for its clients. We are built in Canada, our staff are Canadian,and we pride ourselves on the strength of our relationships with the financial and regulatory bodies in Canada.
Your funds are safe at Coinsquare. By working in concert with the Ontario Securities Commission and other regulatory bodies, we are able to ensure the long term viability of cryptocurrency here in Canada. As a result, our clients can rest assured they are using a trading platform that is rapidly advancing in the cryptocurrency space.
We are FINTRAC regulated and focused on transparency, risk mitigation, and building a regulated and safe environment for the trading of digital assets. We are committed to innovating in the area of blockchain technology and are grateful for the support of our fellow Canadians.
Buy, sell, or HODL crypto. At Coinsquare, the choice is yours.