TORONTO, Dec. 31, 2021 /CNW/ -- Binance is issuing this news release to clarify and correct the announcement that was made to its Ontario users on December 29, 2021 and address the concerns raised . Cryptocurrency exchange Binance said it had a "constructive meeting" Friday with the Ontario Securities Commission (OSC), to clarify an announcement to its users that suggested it could still provide trading services in Canada's most populous province. Edited June 29, 2021 by brianwalden Binance.US Updates Minimum Price Increment (Tick Size) For UST/USDT. This means they are not authorized to offer trading in derivatives or securities to persons or companies located in the province. On Friday, Binance announced that it has designated Ontario a "restricted Jurisdiction.". Comments from the OSC suggest that Binance may find it a challenge to resolve its Ontario woes . Dispute between the Ontario Securities Commission (OSC) and Binance started on June 2021 when Binance announced its decision to quit Ontario due to a regulatory crackdown in the province. Cryptocurrency trading platform. In December, along with the misleading announcement on allowing transactions in Ontario, Binance also announced that they were withdrawing from Singapore due to regulatory disputes. TL;DR Breakdown Binance quits operation in Canada Binance yet to settle in North America The world's largest crypto exchange, Binance exchange, has stopped serving users in Ontario, Canada. The undertaking concludes the dispute which has been started in June when Binance made an announcement it will be no longer provide its services to Ontario accounts and its users were advised to close their active accounts by the end of this year. Binance announced that it was to stop its services to clients from Ontario, Canada, due to mounting regulatory obligations for crypto businesses in the country's most populous province. API Updates. The latest announcement will further confuse users and perhaps shows there is still some way to go for Binance to appease the relevant authorities. Binance has knowledgeable Canadian regulators it's going to cease taking up new clients in Ontario and decide to stop buying and selling for current ones. Binance represented to OSC Staff that no new transactions involving Ontario residents . "Regrettably, Binance can no longer continue to service Ontario-based users," Binance stated in an announcement on Friday. Layan Odeh. Binance had to stop his crypto derivatives products in South Africa three months later due to a similar regulatory dispute. Additionally, the OSC will continue to ban Binance from marketing its services to Ontario-based users. New Fiat Listings. "Binance represented to OSC staff that no new transactions involving Ontario residents would occur after December 31, 2021," the announcement read. "Binance has issued a notice to users, without any . Binance has informed its Ontario-based customers that the firm would not be able to serve them anymore. Binance, the largest crypto exchange in the world by trade volume, has been barred from doing business in Ontario, Canada. Japan and the Canadian province of Ontario. Binance users in Ontario would be saying farewell to Binance as provinces set more limitations for cryptocurrency exchanges. Bitfinex? "This remains the case," the OSC noted in a statement. "Regrettably, Binance can no longer continue to service Ontario-based users," Binance stated in an announcement on Friday. . Binance Held Talks With Ontario Securities Commission, Says Restrictions on Users Remain. The dispute between Binance and the Ontario Securities Commission started in 2021 when the exchange announced its plans to stop providing services to Ontario after it was accused of violating securities laws. Binance will end their services by the end of 2021 to their Ontario users. Binance is a popular crypto exchange and its services are popular in multiple countries. . The OSC said that no entity in the exchange's group of enterprises was registered with the province. Breaking: Binance just pulled out of Ontario! This is different from its previous announcement, where it noted that all Ontario users would have to withdraw their funds since the . This is unacceptable. The Ontario government has signed a child-care deal with the federal government, a move that will see child-care fees cut in half by the end of the year and . The world's leading blockchain ecosystem and digital asset exchange. The announcement said that "Binance conveyed to OSC employees that no new transactions involving Ontario citizens will occur after December 31, 2021." TORONTO, Dec. 31, 2021 /PRNewswire/ -- Binance is issuing this news release to clarify and correct the announcement that was made to its Ontario users on December 29, 2021 and address the concerns raised in the press release issued by the Ontario Securities Commission (OSC) on December 30, 2021. That same week, Binance pulled out of Ontario, Canada's most populated province, after other crypto exchanges, including Bybit, had actions filed against them for failing to comply with Ontario . This is a big deal as Binance is one of the major crypto exchanges and the first (major) to pull out of Canada. Binance did not give specifics on what happened with Ontario authorities, nor did it confirm intentions to comply with any restrictions that may be imposed. "Regrettably, Binance can no longer continue to service Ontario-based users," Binance stated in an announcement on Friday. "Binance represented to OSC staff that no new transactions involving Ontario residents would occur after December 31, 2021," the announcement read. Every person from the Ontario region should close their Binance exchange position, according to Binance exchange. . Bitmex, a crypto derivatives exchange, followed Binance's lead and left Ontario in August. . Leading crypto exchange Binance has just signed an undertaking with the Ontario Securities Commission (OSC) to officially shut down its operations in the province. After the announcement by Japanese regulator about the hard regulation on Cryptocurrency exchanges, Binance also announced in short lines that they will no longer provide their services to those people who belong to those regions which goes under Japan's . Binance.US Will Support the Upcoming Elrond (EGLD) Network Upgrade. Binance's users from Ontario have been receiving mixed signals from the exchange platform since mid-2021. The announcement follows publication of a Statement of Allegations on June 21, 2021 against Binance by the Ontario Securities Commission (OSC). According to the announcement . New Cryptocurrency Listing. Binance to Stop Serving Ontario Crypto Traders According to the announcement from OSC's official website, the undertaking was issued due to the exchange offering crypto services to investors in the province without regulatory . On the tails of warning from the Japanese regulators back on Friday, Binance ceases operations in Ontario as per the short statement a day ago in Ontario. The December announcement brought a swift response from the OSC, which assured traders that Binance remained an unregistered entity. However, on December 29, 2021, Binance falsely notified investors that it was allowed to continue its operations in Ontario. Bitfinex? This continues to be the case. A recent announcement of the Binance exchange confused the Ontario users, whether to close their accounts from Binance or not. Published March 28, 2022 5:43 a.m. PDT. manage the fiscal and financial affairs of the province, including the provincial budget, quarterly and mid-year updates ( Fall Economic Statement) and work with Treasury Board Secretariat to prepare consolidated financial statements ( public . Ontario-based users are advised to take immediate measures to close out all active positions by December 31, 2021. Crypto platform Binance claims 'miscommunication' with Canadian regulators, won't be serving Ontario customers David Milstead Institutional Investment Reporter Published December 31, 2021 The OSC's press release on December 30, 2021 . A meeting with the Ontario Securities Commission took place following Binance's announcement in the week on continuing its operations in Ontario. Ontario's plan on Cryptocurrency exchange ban will start soon. In their announcement, they told users they would take some immediate actions, such as . Simplicity Gameplays says: July 15, 2021 at 3:02 pm. Meanwhile, Binance has received in-principal approval from the Central Bank of Bahrain (CBB) as a crypto-asset service provider, according to a Dec. 27 announcement.The in-principle approval from the Middle East kingdom still requires Binance to complete the full . I would hope that they set up an Ontario version of Binance and any customers who move their accounts over by the end of the year receive the airdrop. Changpeng Zhao, Binance CEO tweeted today, how the crypto exchange giant believes in solving problems over engaging in debates or fights. Binance reportedly stated that there had been a "miscommunication" in its earlier announcement. Binance, the world's largest cryptocurrency exchange by trading volume has revealed it will be restricting users from the Canadian province of Ontario effective today. Yesterday, Binance finally made up its mind and announced its departure from the Ontario market as well as it'll provide fee waivers and reimbursements. Soon after the announcement, Binance also amended its contract for . This continues to be the case. Breaking: Binance just pulled out of Ontario! OSC: Binance Wasn't Registered. Binance held talks with the Ontario Securities Commission and has confirmed that restrictions on users will remain in place after announcement to its users that suggested it could still provide trading services in the province. The top-tier crypto trading. Binance to Stop Serving Ontario Crypto Traders According to the announcement from OSC's official website, the undertaking was issued due to the exchange offering crypto services to investors in the province without regulatory . Simplicity Gameplays says: July 15, 2021 at 3:02 pm. Announcement. The OSC said that no entity in the exchange's group of enterprises was registered with the province. Bittrex? Binance.US Adds 12 New Cryptocurrencies to OTC Portal. Author of the article: Stephanie Hughes. The nuance here is this spat between the OSC and Binance goes back to mid . As a result, Binance followed the jury's decision and issued a small announcement to their users. TORONTO, Dec. 31, 2021 /CNW/ -- Binance is issuing this news release to clarify and correct the announcement that was made to its Ontario users on December 29, 2021 and address the concerns raised . From September 2020, the platform . The largest change on the earth by buying and selling quantity was pressured to shut its doorways by the Ontario Securities Fee (OSC) after failing to stop buying and selling unregistered . 0. . The move preceded a notice from the UK's Financial Conduct Authority (FCA) which stated that Binance . "After 31 years, Binance was . However, none of Binance problems are close to a solution, instead, the arena of trouble has been expanding for Binance. Binance sought to further clarify the 'miscommunication' in an official statement to The Block on December 30: "Unfortunately, there has been a miscommunication. It was told by the firm that Ontario has now become a restricted area of crypto trading for Binance. The OSC stated that before Binance issued this announcement, the exchange was committed to . TORONTO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Rivalry Corp. (the " Company " or " Rivalry ") (TSXV: RVLY) (FSE: 9VK) (OTCQX: RVLCF), an . According to the report, OSC "Binance advertised to its users without giving any notice to its users. Regarding allowing transactions after the January 1 announcement, Binance claimed that it was only allowed for specific users "to protect the investors This past summer, Binance Canada announced it would cease providing crypto services in Ontario after the Ontario Securities Commission (OSC) took a more aggressive approach to crypto exchanges . The Ontario Securities Commission (OSC) is notifying investors that Binance is not registered under securities law in Ontario. A month in advance of the announcement of Binance, a unique prospectus was introduced on the behalf of the OSC along with the . Every person from the Ontario region should close their Binance exchange position, according to Binance exchange. One such leading foreign brand available in Ontario was Binance. . #Binance #BNB For support: @BinanceHelpDesk . The announcement said that "Binance conveyed to OSC employees that no new transactions involving Ontario citizens will occur after December 31, 2021." However, on December 29, 2021, Binance falsely notified investors that it was allowed to continue its operations in Ontario. As pressure from the Canadian province flares, it would be . Cryptocurrency exchange Binance said it had a "constructive meeting" Friday with the Ontario Securities Commission (OSC), to clarify an announcement to its users that suggested it could still . Learn how you could practice responsible trading with Binance Futures. In 2021, Binance had previously disclosed plans to withdraw its services from Ontario users, a move triggered by the regulatory backlashes faced by the exchange. As a result, Binance followed the jury's decision and issued a small announcement to their users. Cryptocurrency Exchange giant, Binance has decided to stop its services to clients from Ontario, Canada, due to mounting regulatory Obligations for crypto businesses in the country's most populous province. Binance did not give specifics on what happened with Ontario authorities, nor did it confirm intentions to comply with any restrictions that may be imposed. The firm quit the state on Friday, June 26, 2021. Binance, the prominent exchange of cryptocurrency has assured the OSC (Ontario Securities Commission) - working in Canada - that the platform will halt its operations in the case of the Ontario-based citizens. Ontario will scrap most mask mandates including in schools, restaurants and stores across the province on March 21, with remaining COVID-19 regulations also set to drop by the end of April. . . Latest Binance News. UPDATE (July 16, 10:57 UTC): Adds details from SFC statement and earlier stock-token announcement from Binance. The exchange has even told its Ontario customers to ensure that their active positions are . FinTrac is a federal MSB regulator, unlike in the US . . 0. This is a different situation from American customers who were using Binance.com well past the time when they were required to switch to Binance.us. The OSC said that Binance has broken its word to regulators. According to the exchange's announcement, users in the new limited area must cancel all of their holdings as soon as possible, with a deadline of December 31, 2021. The OSC released a . In an announcement published on Friday, the CIMA said it is informing the public that none of Binance, the . Perpetual or Quarterly Contracts settled in USDT or BUSD. . OSC: Binance Wasn't Registered. Departure comes after Binance made a similar move to leave Ontario following a crypto crackdown in June 2021 . Heres a link to Binances statement Press J to jump to the feed. The firm, however, did not give reasons why it quit Ontario as it announced on Thursday that [] support provincial fiscal, taxation and economic policy and support intergovernmental fiscal relations. We apologize for any inconvenience caused. Delisting. phantom, terra wallet, and dex's fulltime sigh also huobi made an announcement that its pulling out of Canada. . In addition, Binance admitted that its customer service team "tweeted inaccurate information, informing an Ontario user that they could trade after January 1, 2022, as normal if their account . Search. . UPDATE(July 16, 13:34 UTC): . The firm, however, did not give reasons why it quit Ontario as it announced on Thursday that Ontario-based users must close all active positions by December 31, 2021. It has come to my attention that we in Ontario Canada are being kicked out as of Dec 31st, 2021. USD-M Futures. Regarding allowing transactions after the January 1 announcement, Binance claimed . These events resulted in the OSC issuing an announcement on December 30, 2021 to confirm that no entity in the Binance group of companies holds any form of securities registration in Ontario. The Ontario Securities Commission has reprimanded the exchange giant for misinforming Canadian users. Binance said in an earlier announcement that there had been a "distorted relationship." Opinions from OSC suggest Binance may find it difficult to solve Ontario's problems soon. Binance was reprimanded by the Ontario Securities Commission for telling users of its cryptocurrency trading platform that it was allowed to continue operations in Canada when it still . COIN-M Futures. The notice sent to Binance's Ontario users is most likely related to the exchange's Canadian entity's registration as a money services business with FinTrac, Canada's anti-money laundering agency, which took place last week. . . The OSC's latest announcement is another setback for Binance, which has encountered regulatory opposition . Publishing date: Jan 17, 2022 January 17, 2022 2 minute read Join the conversation . These events resulted in the OSC issuing an announcement on December 30, 2021 to confirm that no entity in the Binance group of companies holds any form of securities registration in Ontario. Binance reportedly stated that there had been a "miscommunication" in its earlier announcement. The Ontario Securities Commission (OSC) announced on June 21, 2021 that it has taken action against "non-compliant" international cryptocurrency trading platform, Bybit.. This year, Binance faced many scrutiny warnings from different states and Countries' regulators. Binance had to stop his crypto derivatives products in South Africa three months later due to a similar regulatory dispute. The OSC has given green light to six crypto trading platforms Wealthsimple, Fidelity, Coinberry, Netcoins, CoinSmart and Bitbuy. From September 2020, the platform . Wallet Maintenance Updates. The firm quit the state on Friday, June 26, 2021. phantom, terra wallet, and dex's fulltime sigh also huobi made an announcement that its pulling out of Canada. Binance ceases operations in Ontario after the major regulatory crackdown in the country and has plans to end all operations by December 31, 2021, as we read more in our latest Binance news. The Cayman Islands Monetary Authority (CIMA) has said that despite media reports of Binance being incorporated in the territory, it is not licensed by the regulator to operate a crypto exchange business from or within the Islands. The announcement was released as Binance intends to respect its terms which states adherence to regulatory standards. Cryptocurrency Exchange giant, Binance has decided to stop its services to clients from Ontario, Canada, due to mounting regulatory Obligations for crypto businesses in the country's most populous province. Latest Activities. The world's largest crypto exchange, Binance exchange, has stopped serving users in Ontario, Canada. "No entity in the Binance group of companies holds any form of securities registration in Ontario." Binance based its statement on its recent registration as a money services business with Canada's anti-money laundering authority, FinTrac. This is a big deal as Binance is one of the major crypto exchanges and the first (major) to pull out of Canada. In December, along with the misleading announcement on allowing transactions in Ontario, Binance also announced that they were withdrawing from Singapore due to regulatory disputes. Crypto Airdrop. "This is unacceptable," the announcement continued. Bitmex, a crypto derivatives exchange, followed Binance's lead and left Ontario in August. Regrettably, Binance can no longer continue to service Ontario-based users. According to the announcement provided by the trading platform, the Ontario region has now been placed in the "restricted jurisdiction" category after updating its Terms of . "This remains the case," the OSC noted in a statement. Binance.US Will Perform Scheduled Maintenance for 17 Networks & Temporarily Suspend . The Ontario Securities Commission (OSC) responded on Thursday notifying investors that Binance still remains an unregistered entity. While the underlying situation is somewhat complex, it's unarguable the recent announcement by cryptocurrency mega exchange, Binance would stop serving Ontarian customers in the near future falls into a pattern of unhelpful behavior toward several cryptocurrency exchanges by the Ontario Securities Commission (OSC). Leading crypto exchange Binance has just signed an undertaking with the Ontario Securities Commission (OSC) to officially shut down its operations in the province. Internet Gaming Set to Commence on April 4th, 2022. Binance is alleged to have marketed unauthorized securities to Canadians and . Also, Binance announced that it was halting its Canada operations in Ontario amid an intensive crackdown. Binance.US Will Support the Upcoming Stellar (XLM) Network Upgrade. A month before the Binance's notice, Ontario Securities Commission has announced the new . Bittrex? According to the exchange's announcement, users in the new limited area must cancel all of their holdings as soon as possible, with a deadline of December 31, 2021.