On October 1, Cointelegraph reported that cryptocurrency trading platform Gemini said in an email sent to Canadian users on September 30 that it would close all Canadian accounts (with only a few exceptions) by December 31, and users would have 90 days to withdraw assets from the platform.
A few months ago, Canadian financial regulators introduced regulatory requirements for cryptocurrency trading platforms operating in Canada. The Canadian Securities Administrators (CSA) requires all crypto asset trading platforms to sign a legally binding pre-registration commitment letter in order to continue operating in the country. Gemini submitted its pre-registration application on April 13. Other trading platforms such as OKX, dYdX, Paxos, Bybit and Binance have announced their withdrawal from the Canadian market.
