The largest crypto exchange Binance has been able to pull through the regulatory measures in Canada after hashing it out with its regulators. Earlier in June, Binance informed its users in Ontario to close their accounts before December 31st, because of misleading accusations made by opposing crypto exchanges, which were brought to the OSC. However, yesterday, Binance users from Ontario received an email that the digital currency exchange will remain in the province.
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It managed to cooperate with Canadian regulatory entities and secured a license with FINTRAC (the national financial intelligence agency) as an official Money Service Business in Canada.
As of right now, after gaining some footing in Canada, Binance is taking its first steps to ensure that the cooperation with Canadian regulators remains smooth, and customers from Ontario are eligible to use the services of the crypto exchange. by Dom Z. – Crypto Analyst, BitDegree