Binance, the world's largest cryptocurrency exchange, announced that it is leaving the Canadian market due to the current regulatory environment.
Despite the low volume of trading in Canada, they had sentimental feelings about it as Binance founder Changpen Zhao is a native Canadian.
"We are grateful to the regulators who have worked with us to serve and protect Canadian users. We had high expectations for the Canadian blockchain sector. Unfortunately, this market has become less ideal for our business because of new policies. We procrastinated on this decision, even as we looked for possible ways to protect our Canadian customers, but clearly there were none. Each Canadian user will be sent a letter describing the actions they need to take.We don't agree with this policy of the regulator, but we remain confident that one day we will return to this market and then Canadian residents will once again have unrestricted access to a vast range of digital assets," the exchange said on Twitter.
Previously, access to the famous decentralised exchange dYdX was restricted to residents of Canada.
