Binance confirmed in a pledge to Canada’s Ontario Securities Commission, or OSC, on Wednesday that the crypto exchange will cease operations with Ontario residents. Binance will also stop opening new Ontario accounts and offer fee waivers and fee waivers to certain Ontario users under the control of a third party, the company said.
The deal appears to mark the end of a disagreement that began in June when Binance announced it would no longer serve Ontario accounts and advised customers to close active positions by the end of the year. The month prior to Binance’s announcement, the OSC introduced a new prospectus and registration requirements for cryptocurrency exchanges.
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