Crypto Exchange Bitfinex Tells Ontario Customers to Close Accounts

 

 

 

Crypto Exchange Bitfinex Tells Ontario Customers to Close Accounts

Business Markets Policy & Regulation
January 14, 2022 by J.D. Smith
10
Cryptocurrency exchange Bitfinex said customers based in Canada’s most populous province will no longer have access to any services beginning March 1. No reason was given for the move. Bitfinex told its Ontario customers they should withdraw their funds on or before March 1. Beginning today, customers without account balances will have their accounts closed.
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Cryptocurrency exchange Bitfinex said customers based in Canada’s most populous province will no longer have access to any services beginning March 1. No reason was given for the move.

  • Bitfinex told its Ontario customers they should withdraw their funds on or before March 1.

  • Beginning today, customers without account balances will have their accounts closed. Those without open positions on the exchange’s peer-to-peer financing markets will lose access to those markets. And customers without open margin positions will also no longer have access to margin or borrowing.

  • Crypto exchange giant Binance was recently told by the Ontario Securities Commission that it still wasn’t registered in the province after the exchange told customers it was reversing an earlier decision to suspend their accounts. Binance later said there had been a “miscommunication” during the process, and that “it is our top priority to speak to the Ontario Securities Commission (OSC) and will seek to remedy this misunderstanding as soon as possible.”
  • Neither Bitfinex nor the OSC immediately responded to CoinDesk’s requests for comment.

DISCLOSURE

Michael Bellusci is CoinDesk’s crypto payments reporter.

View Original Source Here
Author: Michael Bellusci

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