Binance just dropped a major bombshell.
They are pulling out of the Canadian Market completely as of September 25th, 2023. Canada proving once again to be a horrible place to do business. Inept governments and overzealous regulators being short sited. Instead of embracing an industry that they don't understand in order to create good jobs they have made a regulatory environment so toxic that Binance is going to close up shop and focus their effort elsewhere.
I am sure the Canadian Banking Oligopoly will continue to pressure their bought and paid for regulators to squeeze out competition until they are ready to open their own Crypto platforms.
Binance will be ending services in Canada. They sent out an email today to Canadian users in regard to their services:
This is obviously a disappointment as I Binance is a leader in the industry and I am just 1 month into stacking towards a BNB token. I am curious to see how things like my STX locked staking will be treated. The only feature I use on Binance really is their Earn products. I wish this wasn't the case but depending on how this plays out, I may have to drop Binance and move my tokens to Kucoin.
I hope one of those programs with the three letters can help me get around this problem, if not decisions will have to be made.
Nevertheless this is a disappointment.
Keep Building.
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Keep building!
As always you can join the conversation on Twitter @1BTCproject
And keep track of my crypto journal on my other blog - http://635ed752b3bfb.site123.me/
