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Binance Stays in Canada After Succesful Negotiations

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Binance Stays in Canada After Succesful Negotiations

The largest crypto exchange Binance has been able to pull through the regulatory measures in Canada after hashing it out with its regulators.

Earlier in June, Binance informed its users in Ontario to close their accounts before December 31st, because of misleading accusations made by opposing crypto exchanges, which were brought to the OSC. However, yesterday, Binance users from Ontario received an email that the digital currency exchange will remain in the province. 

Binance Resumes Operations In Canada: an email to Binance users from Ontario.

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It managed to cooperate with Canadian regulatory entities and secured a license with FINTRAC (the national financial intelligence agency) as an official Money Service Business in Canada. 

As of right now, after gaining some footing in Canada, Binance is taking its first steps to ensure that the cooperation with Canadian regulators remains smooth, and customers from Ontario are eligible to use the services of the crypto exchange.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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