Coinbase in Talks to Stay in Canada Amid Regulatory Changes
Coinbase is discussing with Canadian regulators the possibility of remaining in the country as it tightens rules for cryptocurrency exchanges. According to an anonymous source, the US-based company is considering obtaining the necessary license to continue operating in Canada.
Coinbase Reaffirms Commitment to the Canadian Market
Elliott Suthers, Coinbase's communications director, expressed the company's dedication to the Canadian market as a vital part of their international expansion plan in a statement to CoinDesk.
LATEST: Coinbase is in contact with Canadian regulators to discuss the possibility of remaining in the country, according to Coindesk.
— Paryte (@Parytecom) March 29, 2023
Binance May Exit Canada, but No Definitive Plans Yet
A second anonymous source revealed that Binance would likely withdraw from the Canadian market. However, a Binance spokesperson stated that the exchange, led by Canadian CEO Changpeng Zhao, has yet to make any final decisions.
Canada's Crypto Regulation Deadline and Industry Impact
Canada's March 24 deadline for firms to adhere to stricter crypto regulations followed the high-profile collapse of QuadrigaCX. OKEx has already announced its departure, while Crypto.com plans to stay. Blockchain.com is leaving, Deribit informed customers of its departure, and Kraken is expected to announce it soon.
