{"id":418200,"date":"2022-03-18T23:40:34","date_gmt":"2022-03-18T20:40:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-tells-regulators-it-will-cease-operations-in-ontario-for-real-this-time\/"},"modified":"2022-03-18T23:40:34","modified_gmt":"2022-03-18T20:40:34","slug":"binance-tells-regulators-it-will-cease-operations-in-ontario-for-real-this-time","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-tells-regulators-it-will-cease-operations-in-ontario-for-real-this-time\/","title":{"rendered":"# Binance tells regulators it will cease operations in Ontario&#8230; for real this time"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35fca7a6a86\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35fca7a6a86\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-tells-regulators-it-will-cease-operations-in-ontario-for-real-this-time\/#%E2%80%9D_Binance_tells_regulators_it_will_cease_operations_in_Ontario%E2%80%A6_for_real_this_time_%E2%80%9C\" >&#8221; Binance tells regulators it will cease operations in Ontario&#8230; for real this time &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_tells_regulators_it_will_cease_operations_in_Ontario%E2%80%A6_for_real_this_time_%E2%80%9C\"><\/span>&#8221; Binance tells regulators it will cease operations in Ontario&#8230; for real this time &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZWIzNGU4MDUtMmVlMi00N2I1LWE5MTgtZjQ4YjRhOWE4YTBkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Binance confirmed in an undertaking to the Ontario Securities Commission, or OSC, in Canada dated March 16 that the crypto exchange will cease activities involving Ontario residents. Binance will also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.osc.ca\/sites\/default\/files\/2022-03\/20220316-Binance-Undertaking-and-Acknowledgement.pdf\">stop<\/a> opening new Ontario accounts and provide fee waivers and fee reimbursements to certain Ontario users under the administration of a third party, the company said.\u00a0<\/p>\n<p>The undertaking<strong> <\/strong><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to mark the end of a disagreement that started in June, when Binance announced that it would no longer service Ontario accounts and customers were advised to close out active positions by the end of the year. The month prior to Binance\u2019s announcement, the OSC introduced a new prospectus and registration requirements for cryptocurrency exchanges.<\/p>\n<p>In December, Binance told investors that it was allowed to continue operations in the province despite having no registration. The OSC quickly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.osc.ca\/en\/news-events\/news\/binance-not-registered-ontario#:~:text=TORONTO%20%E2%80%93%20The%20Ontario%20Securities%20Commission,companies%20located%20in%20the%20province.\">refuted<\/a> that claim. In the undertaking submitted Wednesday, Binance acknowledged that its statement was untrue. The exchange also admitted it told Ontario investors in a Jan. 1 email that trading and onboarding were restricted, but it continued to allow them to trade as usual. In the undertaking, Ontario users were given 90 days to close out their positions. <\/p>\n<p>The OCS <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.osc.ca\/en\/news-events\/news\/statement-undertaking-given-binance\">stated<\/a> that it \u201creserves the right to take enforcement action against Binance for any past, present or future breaches of Ontario securities law not arising from the events described in the undertaking.\u201d<\/p>\n<p>The Ontario regulator is noteworthy for its hardline stance toward crypto exchanges. It recently\u00a0took action against several exchanges that once operated in the province, including Bitfinex, OKEx, Bybit, KuCoin and Polo Digital Assets. As of late January, the exchanges that have been <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.osc.ca\/en\/industry\/registration-and-compliance\/registered-crypto-asset-trading-platforms\">allowed<\/a> to operate in Ontario are Bitbuy, Coinberry, CoinSmart, Fidelity Digital Assets and Wealthsimple. The OSC also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingeek.com\/tether-banned-on-canada-first-2-licensed-digital-currency-exchanges\/\">banned<\/a> Tether (USDT) in August.<\/p>\n<p>Binance will <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/financialpost.com\/fp-finance\/cryptocurrency\/binance-confirms-that-it-will-stop-opening-new-accounts-in-ontario\">continue<\/a> to operate in other Canadian provinces. The Alberta Securities Commission is the exchange\u2019s principle regulator in the country.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-tells-regulators-it-will-cease-operations-in-ontario-for-real-this-time\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance tells regulators it will cease operations in Ontario&#8230; for real this time &#8220; Binance confirmed in an undertaking to the Ontario Securities Commission, or OSC, in Canada dated March 16 that the crypto exchange will cease activities involving Ontario residents. Binance will also stop opening new Ontario accounts and provide fee waivers and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":418201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZWIzNGU4MDUtMmVlMi00N2I1LWE5MTgtZjQ4YjRhOWE4YTBkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74894,74863,74860,74355,117,22974,55229,70934],"class_list":["post-418200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-adoption","tag-business","tag-canada","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/418200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=418200"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/418200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/418201"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=418200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=418200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=418200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}