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Binance Commits to Halting Cryptocurrency Trading Services in Ontario: Crypto Moves
RIYADH: Binance, the largest crypto exchange, has informed the Ontario Securities Commission that it is committed to stopping new account openings for Ontario residents and ending certain services to comply with strict regulations.
In March 2021, the province required crypto-asset exchanges to contact the OSC to ensure companies were following security rules.
Binance reacted by withdrawing its services from Ontario in June last year, telling its users that they should close all active positions by December 31, 2021.
However, on December 29, Binance notified Ontario customers that it was cleared to continue operations there.
In a new development, Binance has pledged to stop opening new accounts in Ontario, stop trading on existing accounts in Ontario, with exceptions to protect investors, and end operations in certain products .
In a letter to the OSC, Binance acknowledged that, “Regardless of representations made to OSC workers and buyers, Ontario buyers were able to proceed with trading after the restrictions were assumed to be in place.”
Bitcoin, the leading international cryptocurrency, traded lower on Monday, falling 0.92% to $41,316 as of 2:55 p.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $2,911, up 0.31%, according to data from Coindesk.
Prince Philip of Serbia and Yugoslavia says bitcoin is freedom, noting that “we need to take the money out of the state.”
Philip added: “We have to have hard money again. We need good quality money that is not subject to inflation.
He is currently working with a global asset manager in London, according to the Serbian Royal Family website.
“I work in finance,” he confirmed on a Serbian TV show.
He added, “I mainly analyze and tell clients what’s going on with the market, what’s going on with their portfolios, and I talk to a lot of other analysts and a lot of other portfolio managers within the company. ‘business. We help to make decisions… It’s a great experience to be an analyst. I learn a lot.
“Bitcoin is about freedom, and that’s something I want for everyone,” Philip said.