Will Binance Exit U.S. Next After Canada?

Also Read: Can Coinbase Drag US SEC To Provide Clear Crypto Rules After This?

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As per the announcement, Binance is joining other major crypto businesses withdrawing from the Canadian marketplace. The biggest crypto exchange still holds “high Hopes” from the Canadian blockchain industry. Meanwhile, new guideline linked to stablecoin and investor limits turns out to be the massive reason behind Binance’s Canada exit.

It added that Canadian users would get receive further communication over how this exit will impact their accounts. However, Binance mentioned that it will someday return to the Canadian Marketplace when users will regain the freedom to access a broader suite of crypto assets.

It is important to note that Binance and its CEO, Changpeng Zhao are also facing legal challenges in the U.S. over not complying with the guidelines. Earlier, US Commodity Futures Trading Commission (CFTC) filed a civil suit against the CZ and three other entities that operate the Binance platform.

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Reports suggests that CZ who holds majority stake in the Binance.US has been looking out the ways to reduce its holding in the company.

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