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Priyanka Jadhav
Mar 21, 2022
by Priyanka Jadhav

Imposed Restrictions Couldn't Stop Ontario Investors to Trade On Binance

Binance OSC Trading
The ongoing dispute between the financial watchdog - Ontario Securities Commission (OSC) and the leading cryptocurrency exchange Binance is finally over. This is because the crypto operations in Ontario were finally ceased legally by the crypto trading platform itself. 

Disagreement Between Binance and Ontario

Binance and Ontario stood disputed since June last year when the crypto exchange decided to quit operations in the province due to allegations of failing to meet crypto securities laws. The OSC continued to allege that Binance notified its users about continuing operations in Ontario while being unregistered in December. 

Binance & Ontario Come to an Agreement

On March 17, 2022, Binance Holdings & Binance Canada Capital Markets Inc., were issued an undertaking by the OSC. In response, Binance ensured that the creation of new accounts in Ontario will be halted, trading in existing accounts will be ceased, fee waivers and reimbursements will be provided to some users. 

Additionally, Binance also guarantees to report to the OSC and retain as an “independent third party.” The leading exchange promises to pave a regulatory path to ensure compliance with the OSC. 

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Cryptocurrency Exchange Binance Ontario Securities Commission Binance Canada Capital Markets Inc
Imposed Restrictions Couldn't Stop Ontario Investors to Trade On Binance
Priyanka Jadhav
Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

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