Binance Leaves Canada Citing Regulatory Issues

Binance has decided to leave Canada due to growing tensions between regulators and cryptocurrency exchanges (cryptocurrency service providers). The company stated that the management had high hopes for the Canadian cryptocurrency market, but now it is not feasible for them to stay there. According to the new rules released by the Canadian Securities Administrators, trading platforms cannot allow users to buy stablecoins without prior permission from the regulators. The permission will be obtained if the platform passes the rounds of scrutiny without fail. Binance did not agree and has decided to sever ties with many US partners after receiving scrutiny from North American regulators.