Binance to likely exit Canada

Binance to likely exit Canada, per CoinDesk.

This is after CoinDesk reported that Coinbase is considering, and discussing, with regulators to stay in Canada.

Coinbase’s communications director said, “We remain as committed as ever to the Canadian market as a core component of our international road map.”

Binance said: the exchange “has not made definitive plans yet.”

it also said that the exchange: “is actively engaged with the [Canadian Securities Administrators] in its pursuit of registration.”

In 2021, Binance was not allowed in Ontario.

From March 16, 2022, until written notice is provided to Binance by OSC Staff, Binance will rebate any fees collected by Binance from Ontario account holders associated with Permissible Transactions (as described in the Undertaking). This rebate excludes the blockchain fees which are not retained by Binance.Ontario accounts that reduced their account balance to zero between June 25, 2021, and March 16, 2022, and which remain at zero as of March 16, 2022, will be eligible for a rebate. Binance will apply an amount equal to the withdrawal fee into your account. This rebate excludes the blockchain fees which are not retained by Binance. There is a minimum withdrawal fee rebate of $10 USD required to qualify for the program, which means if your rebate would be less than that amount you will not be eligible.