Crypto exchange Bybit_Official has announced that it will be exiting the Canadian market starting as soon as May 31, due to recent regulatory developments in the country. HeleneBraunn reports
Bybit has announced that it will be exiting the Canadian market starting as soon as May 31 due to recent regulatory developments in the country, adding to several other exchanges that pulled out from the country.
“It has always been Bybit's primary objective to operate our business in compliance with all relevant rules and regulations in Canada,” the exchange said in aon Tuesday. “In light of recent regulatory development, Bybit has made the difficult but necessary decision to pause the availability of our products and services.”
No new account openings will be available from May 31, while existing customers will have time until July 31 to make new deposits and enter into new contracts, the company said, noting that they will be able to withdraw or reduce their positions after the closing date.
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