Binance leaves Canada in the face of new cryptocurrency restrictions
In this image from March 4, 2022, the cryptocurrency is depicted in front of the Binance logo. Image via REUTERS/Dado Ruvic/File Photo/File Photo
12 May (Reuters) Weeks after the nation established a number of new rules for cryptocurrency exchanges, including investor limitations and required registrations, Binance said on Friday that it was leaving Canada.

With the establishment of a pre-registration procedure, Canada has recently tightened laws for sites that trade crypto assets. The Ontario Securities Commission's website states that companies that break the laws may be subject to enforcement action.
Unfortunately, the Canada market is no longer viable due to new instructions regarding stablecoins and investor limits supplied to cryptocurrency exchanges.tenable for Binance at this time," crypto exchange Binance said in a tweet.