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Binance Receives Regulatory Approval in Canada!

avatar of @agr8buzz
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Agr8buzz
@agr8buzz
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2 min read

Pumped about this bit of news for the Canadian contingency, Especially those that are looking at a Dec 31 hard cut off from their accounts (Ontario). No ban hammer?

Binance Approved in Canada

CZ tweeted the good news on Friday, he actually didn't say much but I guess he didnt have to. He simply linked to a FINTRAC post showing Binance registered in Canada to conduct Foreign exchange dealing, Money transferring, Dealing in virtual currencies.

Dealing in virtual currencies

This is good news for Canadians, I mean there are alternatives but Binance still offers some of the lowest fee and the highest volume trading pairs.

Ontario user Facing Hard Cut Off

Users in Ontario have a hard cut off by Dec 31st, after which point they wont be able to withdraw funds. Trading has already been removed for those users.

Use a VPN

Looks like there's still ways around the geo fence for now, but for how long until they know I haven't actually moved to Finland..

Is it possible this ban will be reversed, in my opinion very likely.

The news and registration is still fresh so lets give it a couple weeks but I would expect that we'll get news shortly that trading can be resumed for Ontario users. Seeing as though they're federally compliant to FINTRAC now, I dont see why they would be banned in any of the provinces.

The future is bright, gotta wear shades!

Ciao for now,

@agr8buzz

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