Binance cryptocurrency exchange is in the latest news today as it advised its users in Ontario, Canada to close out all action positing by end of this year. Binance service is no longer available for Ontario users, the exchange said Friday.
Over the last couple of months, OSC has issued statements of claims against two other crypto exchanges Poloniex and KuCoin. Claiming that they both failed to comply with Ontario regulation.
On March 29, OSC warned crypto asset trading platform to operate in province that had to contact OSC staff or face regulatory action. Platforms were given until 19 to discuss how to bring their operation into consideration.
With respect to Binance announcement titled “Terms of Use review 2012-06-25)” not given any further information releated closing its operation in Ontario.
On Friday Japan Financial Services Agency (FSA) warned Binance for operating in the country without permission. Similarly the U.K. Financial issued a warning that Binance isn’t authorized to operate.
