Binance did not give specifics on what happened with Ontario authorities, nor did it confirm intentions to comply with any restrictions that may be imposed. In 2021, Binance had previously disclosed plans to withdraw its services from Ontario users, a move triggered by the regulatory backlashes faced by the exchange. This is a big deal as Binance is one of the major crypto exchanges and the first (major) to pull out of Canada. A month before the Binance's notice, Ontario Securities Commission has announced the new . . The announcement follows publication of a Statement of Allegations on June 21, 2021 against Binance by the Ontario Securities Commission (OSC). "Binance represented to OSC staff that no new transactions involving Ontario residents would occur after December 31, 2021," the announcement read. . . The world's leading blockchain ecosystem and digital asset exchange. #Binance #BNB For support: @BinanceHelpDesk Crypto platform Binance claims 'miscommunication' with Canadian regulators, won't be serving Ontario customers David Milstead Institutional Investment Reporter Published December 31, 2021 OSC: Binance Wasn't Registered. Edited June 29, 2021 by brianwalden TORONTO, Dec. 31, 2021 /CNW/ -- Binance is issuing this news release to clarify and correct the announcement that was made to its Ontario users on December 29, 2021 and address the concerns raised . The December announcement brought a swift response from the OSC, which assured traders that Binance remained an unregistered entity. 0. Author of the article: Stephanie Hughes. Bitmex, a crypto derivatives exchange, followed Binance's lead and left Ontario in August. According to the announcement . Binance Held Talks With Ontario Securities Commission, Says Restrictions on Users Remain. According to the report, OSC "Binance advertised to its users without giving any notice to its users. These events resulted in the OSC issuing an announcement on December 30, 2021 to confirm that no entity in the Binance group of companies holds any form of securities registration in Ontario. . Binance has knowledgeable Canadian regulators it's going to cease taking up new clients in Ontario and decide to stop buying and selling for current ones. Simplicity Gameplays says: July 15, 2021 at 3:02 pm. One such leading foreign brand available in Ontario was Binance. The OSC has given green light to six crypto trading platforms Wealthsimple, Fidelity, Coinberry, Netcoins, CoinSmart and Bitbuy. As a result, Binance followed the jury's decision and issued a small announcement to their users. Binance.US Will Support the Upcoming Stellar (XLM) Network Upgrade. Binance.US Will Perform Scheduled Maintenance for 17 Networks & Temporarily Suspend . We apologize for any inconvenience caused. "This is unacceptable," the announcement continued. Binance is alleged to have marketed unauthorized securities to Canadians and . Ontario's plan on Cryptocurrency exchange ban will start soon. Cryptocurrency exchange Binance said it had a "constructive meeting" Friday with the Ontario Securities Commission (OSC), to clarify an announcement to its users that suggested it could still . Internet Gaming Set to Commence on April 4th, 2022. A recent announcement of the Binance exchange confused the Ontario users, whether to close their accounts from Binance or not. Published March 28, 2022 5:43 a.m. PDT. Binance, the prominent exchange of cryptocurrency has assured the OSC (Ontario Securities Commission) - working in Canada - that the platform will halt its operations in the case of the Ontario-based citizens. Binance.US Adds 12 New Cryptocurrencies to OTC Portal. USD-M Futures. . This is unacceptable. . Cryptocurrency Exchange giant, Binance has decided to stop its services to clients from Ontario, Canada, due to mounting regulatory Obligations for crypto businesses in the country's most populous province. This year, Binance faced many scrutiny warnings from different states and Countries' regulators. On Friday, Binance announced that it has designated Ontario a "restricted Jurisdiction.". Binance.US Updates Minimum Price Increment (Tick Size) For UST/USDT. According to the exchange's announcement, users in the new limited area must cancel all of their holdings as soon as possible, with a deadline of December 31, 2021. "This remains the case," the OSC noted in a statement. Binance, the largest crypto exchange in the world by trade volume, has been barred from doing business in Ontario, Canada. These events resulted in the OSC issuing an announcement on December 30, 2021 to confirm that no entity in the Binance group of companies holds any form of securities registration in Ontario. . The OSC's press release on December 30, 2021 . TL;DR Breakdown Binance quits operation in Canada Binance yet to settle in North America The world's largest crypto exchange, Binance exchange, has stopped serving users in Ontario, Canada. The world's largest crypto exchange, Binance exchange, has stopped serving users in Ontario, Canada. . However, none of Binance problems are close to a solution, instead, the arena of trouble has been expanding for Binance. In their announcement, they told users they would take some immediate actions, such as . COIN-M Futures. . The exchange has even told its Ontario customers to ensure that their active positions are . Binance said in an earlier announcement that there had been a "distorted relationship." Opinions from OSC suggest Binance may find it difficult to solve Ontario's problems soon. Binance's users from Ontario have been receiving mixed signals from the exchange platform since mid-2021. UPDATE (July 16, 10:57 UTC): Adds details from SFC statement and earlier stock-token announcement from Binance. OSC: Binance Wasn't Registered. Comments from the OSC suggest that Binance may find it a challenge to resolve its Ontario woes . Bitfinex? "Regrettably, Binance can no longer continue to service Ontario-based users," Binance stated in an announcement on Friday. Regarding allowing transactions after the January 1 announcement, Binance claimed . Dispute between the Ontario Securities Commission (OSC) and Binance started on June 2021 when Binance announced its decision to quit Ontario due to a regulatory crackdown in the province. The undertaking concludes the dispute which has been started in June when Binance made an announcement it will be no longer provide its services to Ontario accounts and its users were advised to close their active accounts by the end of this year. The firm quit the state on Friday, June 26, 2021. Learn how you could practice responsible trading with Binance Futures. The firm, however, did not give reasons why it quit Ontario as it announced on Thursday that Ontario-based users must close all active positions by December 31, 2021. Ontario-based users are advised to take immediate measures to close out all active positions by December 31, 2021. phantom, terra wallet, and dex's fulltime sigh also huobi made an announcement that its pulling out of Canada. Ontario will scrap most mask mandates including in schools, restaurants and stores across the province on March 21, with remaining COVID-19 regulations also set to drop by the end of April. phantom, terra wallet, and dex's fulltime sigh also huobi made an announcement that its pulling out of Canada. Binance sought to further clarify the 'miscommunication' in an official statement to The Block on December 30: "Unfortunately, there has been a miscommunication. In December, along with the misleading announcement on allowing transactions in Ontario, Binance also announced that they were withdrawing from Singapore due to regulatory disputes. "Regrettably, Binance can no longer continue to service Ontario-based users," Binance stated in an announcement on Friday. API Updates. Departure comes after Binance made a similar move to leave Ontario following a crypto crackdown in June 2021 . Search. Japan and the Canadian province of Ontario. The top-tier crypto trading. Perpetual or Quarterly Contracts settled in USDT or BUSD. That same week, Binance pulled out of Ontario, Canada's most populated province, after other crypto exchanges, including Bybit, had actions filed against them for failing to comply with Ontario . Binance users in Ontario would be saying farewell to Binance as provinces set more limitations for cryptocurrency exchanges. "Binance represented to OSC staff that no new transactions involving Ontario residents would occur after December 31, 2021," the announcement read. Leading crypto exchange Binance has just signed an undertaking with the Ontario Securities Commission (OSC) to officially shut down its operations in the province. This means they are not authorized to offer trading in derivatives or securities to persons or companies located in the province. This continues to be the case. FinTrac is a federal MSB regulator, unlike in the US . Bittrex? Binance is a popular crypto exchange and its services are popular in multiple countries. The notice sent to Binance's Ontario users is most likely related to the exchange's Canadian entity's registration as a money services business with FinTrac, Canada's anti-money laundering agency, which took place last week. A month in advance of the announcement of Binance, a unique prospectus was introduced on the behalf of the OSC along with the . The nuance here is this spat between the OSC and Binance goes back to mid . Bittrex? . From September 2020, the platform . This past summer, Binance Canada announced it would cease providing crypto services in Ontario after the Ontario Securities Commission (OSC) took a more aggressive approach to crypto exchanges . Binance held talks with the Ontario Securities Commission and has confirmed that restrictions on users will remain in place after announcement to its users that suggested it could still provide trading services in the province. This is different from its previous announcement, where it noted that all Ontario users would have to withdraw their funds since the . The Ontario Securities Commission has reprimanded the exchange giant for misinforming Canadian users. The announcement said that "Binance conveyed to OSC employees that no new transactions involving Ontario citizens will occur after December 31, 2021." Meanwhile, Binance has received in-principal approval from the Central Bank of Bahrain (CBB) as a crypto-asset service provider, according to a Dec. 27 announcement.The in-principle approval from the Middle East kingdom still requires Binance to complete the full . The OSC said that Binance has broken its word to regulators. The Ontario Securities Commission (OSC) responded on Thursday notifying investors that Binance still remains an unregistered entity. In addition, Binance admitted that its customer service team "tweeted inaccurate information, informing an Ontario user that they could trade after January 1, 2022, as normal if their account . The move preceded a notice from the UK's Financial Conduct Authority (FCA) which stated that Binance . Additionally, the OSC will continue to ban Binance from marketing its services to Ontario-based users. Binance had to stop his crypto derivatives products in South Africa three months later due to a similar regulatory dispute. I would hope that they set up an Ontario version of Binance and any customers who move their accounts over by the end of the year receive the airdrop. The dispute between Binance and the Ontario Securities Commission started in 2021 when the exchange announced its plans to stop providing services to Ontario after it was accused of violating securities laws. It was told by the firm that Ontario has now become a restricted area of crypto trading for Binance. Cryptocurrency Exchange giant, Binance has decided to stop its services to clients from Ontario, Canada, due to mounting regulatory Obligations for crypto businesses in the country's most populous province. Latest Activities. Breaking: Binance just pulled out of Ontario! "After 31 years, Binance was . The OSC's latest announcement is another setback for Binance, which has encountered regulatory opposition . A meeting with the Ontario Securities Commission took place following Binance's announcement in the week on continuing its operations in Ontario. The firm quit the state on Friday, June 26, 2021. Binance ceases operations in Ontario after the major regulatory crackdown in the country and has plans to end all operations by December 31, 2021, as we read more in our latest Binance news. . Binance to Stop Serving Ontario Crypto Traders According to the announcement from OSC's official website, the undertaking was issued due to the exchange offering crypto services to investors in the province without regulatory . Binance reportedly stated that there had been a "miscommunication" in its earlier announcement. Binance did not give specifics on what happened with Ontario authorities, nor did it confirm intentions to comply with any restrictions that may be imposed. Wallet Maintenance Updates. This is a different situation from American customers who were using Binance.com well past the time when they were required to switch to Binance.us. 0. "Binance has issued a notice to users, without any . UPDATE(July 16, 13:34 UTC): . The announcement was released as Binance intends to respect its terms which states adherence to regulatory standards. Crypto Airdrop. Layan Odeh. Binance has informed its Ontario-based customers that the firm would not be able to serve them anymore. Binance reportedly stated that there had been a "miscommunication" in its earlier announcement. Simplicity Gameplays says: July 15, 2021 at 3:02 pm. New Cryptocurrency Listing. The Cayman Islands Monetary Authority (CIMA) has said that despite media reports of Binance being incorporated in the territory, it is not licensed by the regulator to operate a crypto exchange business from or within the Islands. Latest Binance News. As pressure from the Canadian province flares, it would be . Bitmex, a crypto derivatives exchange, followed Binance's lead and left Ontario in August. Binance will end their services by the end of 2021 to their Ontario users. The firm, however, did not give reasons why it quit Ontario as it announced on Thursday that [] Regrettably, Binance can no longer continue to service Ontario-based users. Binance, the world's largest cryptocurrency exchange by trading volume has revealed it will be restricting users from the Canadian province of Ontario effective today. This is a big deal as Binance is one of the major crypto exchanges and the first (major) to pull out of Canada. TORONTO, Dec. 31, 2021 /CNW/ -- Binance is issuing this news release to clarify and correct the announcement that was made to its Ontario users on December 29, 2021 and address the concerns raised . Leading crypto exchange Binance has just signed an undertaking with the Ontario Securities Commission (OSC) to officially shut down its operations in the province. On the tails of warning from the Japanese regulators back on Friday, Binance ceases operations in Ontario as per the short statement a day ago in Ontario. support provincial fiscal, taxation and economic policy and support intergovernmental fiscal relations. . Regarding allowing transactions after the January 1 announcement, Binance claimed that it was only allowed for specific users "to protect the investors New Fiat Listings. Also, Binance announced that it was halting its Canada operations in Ontario amid an intensive crackdown. Binance.US Will Support the Upcoming Elrond (EGLD) Network Upgrade. Heres a link to Binances statement Press J to jump to the feed. The OSC released a . Binance represented to OSC Staff that no new transactions involving Ontario residents . "Regrettably, Binance can no longer continue to service Ontario-based users," Binance stated in an announcement on Friday. Breaking: Binance just pulled out of Ontario! The OSC said that no entity in the exchange's group of enterprises was registered with the province. As a result, Binance followed the jury's decision and issued a small announcement to their users. . Every person from the Ontario region should close their Binance exchange position, according to Binance exchange. Announcement. The Ontario Securities Commission (OSC) is notifying investors that Binance is not registered under securities law in Ontario. After the announcement by Japanese regulator about the hard regulation on Cryptocurrency exchanges, Binance also announced in short lines that they will no longer provide their services to those people who belong to those regions which goes under Japan's . Changpeng Zhao, Binance CEO tweeted today, how the crypto exchange giant believes in solving problems over engaging in debates or fights. Binance was reprimanded by the Ontario Securities Commission for telling users of its cryptocurrency trading platform that it was allowed to continue operations in Canada when it still . manage the fiscal and financial affairs of the province, including the provincial budget, quarterly and mid-year updates ( Fall Economic Statement) and work with Treasury Board Secretariat to prepare consolidated financial statements ( public . . Cryptocurrency exchange Binance said it had a "constructive meeting" Friday with the Ontario Securities Commission (OSC), to clarify an announcement to its users that suggested it could still provide trading services in Canada's most populous province. The Ontario government has signed a child-care deal with the federal government, a move that will see child-care fees cut in half by the end of the year and . Every person from the Ontario region should close their Binance exchange position, according to Binance exchange. While the underlying situation is somewhat complex, it's unarguable the recent announcement by cryptocurrency mega exchange, Binance would stop serving Ontarian customers in the near future falls into a pattern of unhelpful behavior toward several cryptocurrency exchanges by the Ontario Securities Commission (OSC). The largest change on the earth by buying and selling quantity was pressured to shut its doorways by the Ontario Securities Fee (OSC) after failing to stop buying and selling unregistered . In December, along with the misleading announcement on allowing transactions in Ontario, Binance also announced that they were withdrawing from Singapore due to regulatory disputes. However, on December 29, 2021, Binance falsely notified investors that it was allowed to continue its operations in Ontario. The latest announcement will further confuse users and perhaps shows there is still some way to go for Binance to appease the relevant authorities. Cryptocurrency trading platform. Binance to Stop Serving Ontario Crypto Traders According to the announcement from OSC's official website, the undertaking was issued due to the exchange offering crypto services to investors in the province without regulatory . "This remains the case," the OSC noted in a statement. TORONTO, Dec. 31, 2021 /PRNewswire/ -- Binance is issuing this news release to clarify and correct the announcement that was made to its Ontario users on December 29, 2021 and address the concerns raised in the press release issued by the Ontario Securities Commission (OSC) on December 30, 2021. Soon after the announcement, Binance also amended its contract for . Bitfinex? According to the exchange's announcement, users in the new limited area must cancel all of their holdings as soon as possible, with a deadline of December 31, 2021. "No entity in the Binance group of companies holds any form of securities registration in Ontario." Binance based its statement on its recent registration as a money services business with Canada's anti-money laundering authority, FinTrac. Delisting. In an announcement published on Friday, the CIMA said it is informing the public that none of Binance, the . It has come to my attention that we in Ontario Canada are being kicked out as of Dec 31st, 2021. Binance had to stop his crypto derivatives products in South Africa three months later due to a similar regulatory dispute. The OSC said that no entity in the exchange's group of enterprises was registered with the province. Yesterday, Binance finally made up its mind and announced its departure from the Ontario market as well as it'll provide fee waivers and reimbursements. Publishing date: Jan 17, 2022 January 17, 2022 2 minute read Join the conversation . Binance announced that it was to stop its services to clients from Ontario, Canada, due to mounting regulatory obligations for crypto businesses in the country's most populous province. However, on December 29, 2021, Binance falsely notified investors that it was allowed to continue its operations in Ontario. . The Ontario Securities Commission (OSC) announced on June 21, 2021 that it has taken action against "non-compliant" international cryptocurrency trading platform, Bybit.. This continues to be the case. According to the announcement provided by the trading platform, the Ontario region has now been placed in the "restricted jurisdiction" category after updating its Terms of . From September 2020, the platform . TORONTO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Rivalry Corp. (the " Company " or " Rivalry ") (TSXV: RVLY) (FSE: 9VK) (OTCQX: RVLCF), an . The announcement said that "Binance conveyed to OSC employees that no new transactions involving Ontario citizens will occur after December 31, 2021." The OSC stated that before Binance issued this announcement, the exchange was committed to .