Binance, the world’s largest crypto-asset trading platform, has received approval from Canadian regulators.
Binance made a statement on Wednesday regarding its activities in Canada. The platform has announced that it will continue to operate in Ontario. As it is known, Binance said in June that it would withdraw from Canada’s most populous province, Ontario, after the Ontario Securities Commission (OSC) accused crypto asset trading platforms of not complying with regulations, and announced that Ontario users should close their accounts by December 31.
However, Binance made a new statement on the subject and stated that the regulatory agency gave permission for the company to continue its activities. The statement included the following:
“As a result of continued and positive collaboration with Canadian regulators, Binance in Canada has been successful in taking its first steps on the regulatory path by registering with FINTRAC in Canada as a Money Services Business… This registration allows us to continue our activities in Canada and It allows us to continue our operations in Ontario while we go through the full enrollment process. ”
As we have mentioned before, Binance entered a period of compliance with serious regulations after receiving warnings from financial regulators around the world this year. This represents the last concrete step the platform has achieved in this area.
