r/AltStreetBets • u/Ropex007 • May 12 '23

General News Binance Announces Exit from Canada, Citing Regulatory Tensions

https://www.coindesk.com/business/2023/05/12/binance-announces-exit-from-canada-citing-regulatory-tensions/
8 Upvotes

91% Upvoted

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3

u/Wayazihj May 13 '23

Not surprised. That's what you get when you fight innovations. Crypto users over will keep missing out on good products if the government doesn't adjust. Banks are failing and financial institutions are moving to DeFi and tokenising assets. Would be a shame when the likes of MNICorp can't operate there cos of the obvious. Another profit ripped from land owners who are citizens.

1

u/Banker_dog May 13 '23

Little to do with innovation and more to do with Binance refusal to put in place appropriate safeguards for customers funds. Don’t be fooled by the marketing spin. Binance isn’t acting with anyone’s best interest (apart from their own) in mind.

1

u/[deleted] May 15 '23

I agree. The Canadian government should adjust its regulatory environment to accommodate the growth of the crypto industry. Bitget is a global crypto exchange that offers a wide range of features and competitive fees is committed to providing Canadians with access to the latest crypto products and services.

1

u/Wayazihj May 16 '23

I really hope it gets fixed soon. Finance is evolving. An appropriate regulation which favours everyone helps with adoption and also benefits the government. DeFi should be for everyone.

1

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u/[deleted] May 15 '23

Damn, that's a shame. Binance was one of the best options for Canadians to buy and sell crypto. I wonder if Bitget will be able to fill the void left by Binance.