Bybit withdraws from Canada due to new crypto regulations

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Von: Krypto News Österreich

Die beliebte Kryptowährungsbörse Bybit kündigte an, den kanadischen Markt zu verlassen, und nannte als Grund für ihre Entscheidung die jüngsten regulatorischen Entwicklungen im Land. Der Schritt folgt auf ähnliche Entscheidungen anderer Börsen, die ihren Betrieb in dem nordamerikanischen Land eingestellt haben. Ab dem 31. Mai sind keine neuen Kontoeröffnungen mehr möglich, während bestehende Kunden bis zum 31. Juli Zeit haben, weitere Einzahlungen zu tätigen und neue Verträge abzuschließen. Das Unternehmen versprach außerdem, dass alte Benutzer ihre Positionen nach dem Stichtag zurückziehen oder reduzieren könnten. Eine schwierige, aber notwendige Entscheidung Die Entscheidung von Bybit, Kanada zu verlassen, erfolgt, nachdem die Canadian …
The popular BYBIT cryptocurrency exchange announced that it would leave the Canadian market and named the recent regulatory developments in the country as the reason for her decision. The step follows similar decisions of other stock exchanges that have set their business in the North American country. From May 31, new account openings will no longer be possible, while existing customers have time until July 31, to make further deposits and to conclude new contracts. The company also promised that old users could withdraw or reduce their positions after the key date. A difficult but necessary decision to leave the decision from bybit to leave Canada after the Canadian ... (Symbolbild/KNAT)

The popular cryptocurrency exchange by BYBIT announced that it would leave the Canadian market and named the most recent regulatory developments in the country. The step follows similar decisions of other stock exchanges that have set their business in the North American country.

From May 31, new account openings are no longer possible, while existing customers have time until July 31, to make further deposits and to conclude new contracts. The company also promised that old users could withdraw or reduce their positions after the deadline.

a difficult but necessary decision

The decision of Bybit to leave Canada is made after the Canadian Securities Administrators (CSA) has published new guidelines for crypto companies that force trading platforms for digital assets to obtain approval from the CSA. The new regulations include the implementation of various care tests.

"It has always been the primary goal of Bybit to operate our business in accordance with all relevant rules and regulations in Canada." In view of the recent regulatory development, bybit has made the difficult but necessary decision to expose our products and services, "said Bybit in an explanation.

The current regulatory environment in Canada is becoming increasingly difficult for some crypto exchanges to navigate, which leads to several top-class outlets, including Binance and others who have also withdrawn from the country.

Not all stock exchanges leave the company

In contrast,

In contrast, Coinbase, the largest crypto exchange in the USA, is expanding in Canada. In March, the company hired over 200 engineers in the country to support its global product portfolio. The stock exchange also indicated that your global management team will regularly work with regulatory authorities, partners and the community in Canada in order to better understand the market and its special needs.

The different strategies of crypto exchanges towards the Canadian market reflect the uncertainty about the regulatory system in the country. The exit from Bybit and the withdrawal of Binance mean a setback for the Canadian crypto industry.

The expansion of Coinbase, however, underlines the trust of some companies into the Canadian market, despite regulatory challenges. Bybit is the latest cryptocurrency exchange that withdraws from the Canadian market.

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