The Ontario Securities Commission has forced out Binance as of today. I would recommend any Canadians not to use them as they will most likely leave your province. Here is some details I posted on my Telegram and Discord
As for the OSC, they are scammers within themselves as they will gladly give new trading licenses to brokers who scam thousands of people. They are a very corrupt organization. I do believe this is just another crackdown to limit the financial liberty of those who are successful in crypto trading. I was able to blow up my Binance account by 25x in 2 years with no issue.
NOTE: The switch from Binance to Kraken is not so bad since about 75% of the coins that moved in the last 10 days are covered. There are 75 USD coins with Kraken vs 300+ USDT with Binance.
big announcement for me i have no control since i am in ontario here https://thelogic.co/news/binance-worlds-largest-crypto-exchange-exits-ontario-amid-regulatory-crackdown/
i am looking into alternative but this is a good reason to switch for regulation
there goes the option for okex https://www.okex.com/support/hc/en-us/articles/4403616836621-Notice-to-our-Ontario-and-Quebec-Customers-and-Users
it looks like it will have to be a combo of coinbasepro and kraken for me
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Updates: UK just booted out Binance
There was a warning from Japan regulators a week ago. I posted all this in my Discord server
From some Random Guy
I’m stuck in Ontario as well, just read your article on the crypto crackdown. do we have any assurance that kraken will remain okay for the forseeable future? what’s your preferred strategy for buying small cap coins not on kraken?Mo-M32 just showed up! — Today at 7:39 AM
This is so frustrating. I lost A LOT of money when QuadrigaCX pulled a Keyser Söze years ago and I STILL think gov should just get out of the way.@Random GuyThis is so frustrating. I lost A LOT of money when QuadrigaCX pulled a Keyser Söze years ago and I STILL think gov should just get out of the way.
honestly, i think it’s partly in response to binance’s tokenized stocks. I’m fine to use kraken for onboarding my fiat, but what exchange do you use for grabbing the small cap coins? i was in binance and kucoin…
totally but if we live here we got no choice but many people are looking to move out of commie canada. i get many suggested articles on how to do it@Random GuyI’m stuck in Ontario as well, just read your article on the crypto crackdown. do we have any assurance that kraken will remain okay for the forseeable future? what’s your preferred strategy for buying small cap coins not on kraken?
kraken is regulated so we should be safe. i will have webinar topics on what i plan to do[11:14 AM]it looks like binance is getting booted out of the UK as well. https://www.ft.com/content/8bc0e5e0-2705-496d-a265-acccaffaee87 there was a warning to them from japan as well. it is quite clealy a coordinated attack to eradicat binance since their volume are huge which could be a real threat to local financial systemsNOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!