On May 12, Binance announced on Twitter that it would be “proactively withdrawing” from Canada because “new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time.”
The world’s largest cryptocurrency exchange did not, however, disclose that just two days prior, the Ontario Securities Commission had notified Binance it was under investigation for potentially circumventing the securities law of Canada’s largest province.
