2 Burst results for "Jacob Robinson"
The Breakdown
"jacob robinson" Discussed on The Breakdown
"Going on guys? It is Monday, may 15th, and today we are talking about regulatory action in the great white north. Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review or if you want to dive deeper into the conversation. Come join us on the breakers Discord. You can find a link in the show notes or go to bit LY slash breakdown pod. All right, Friends, happy Monday. Well, let's not bury the lead. Binance has quit Canada. Citing unsuitable regulatory conditions the world's largest exchange will no longer be available for Canadian residents. In a tweet on Friday afternoon, binance said, unfortunately, today we are announcing that binance will be joining. Other prominent crypto businesses in proactively withdrawing from the Canadian marketplace. We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users. Albeit a small market, it held sentimental value for us as the home country of our founder. We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for binance at this time. We put off this decision as long as we could to explore other reasonable avenues to protect our Canadian users, but it has become apparent that there are none. So I think at this stage, it's worth trying to get a little bit of the history and context for binance in Canada. Obviously they are identifying some recent limits and new guidance, but there is of course a history here and it's worth knowing. Luckily, Canadian crypto lawyer Jacob Robinson did a threat on exactly that. He writes finances founded in 2017 at which time Canadian residents had access to the platform for crypto transactions. On March 29th, 2021, the Ontario securities commission notified crypto asset trading platforms that they had until April 19th to contact OSC staff to discuss regulation. These discussions revolved around bringing crypto asset platforms, operations into compliance with Canadian securities laws. The collapse of quadriga and an investigative report led to quote regulatory takeaways applicable to crypto asset platforms, which spurred these conversations. But this common in talk actually led somewhere. There are ten registered crypto platforms in Canada, and many more gave pre registration undertakings with plans to register. Regardless of whether you agree with them, there are rules. Shortly after the coming and talk admonition, binance decided to withdraw its services from Ontario. On June 25th, binance told Ontario users that it could no longer service them, and they would need to close out all active positions by December 31st, 2021. Yet on December 29th, 2021, binance notified Ontario users that it was allowed to continue its operations in Ontario. The OSC quickly published a release notifying investors that binance was not registered under securities law in Ontario and that the firm had committed to no new transactions involving Ontario residents occurring after December
The Breakdown
Binance Quits Canada Over Regulatory Issues
"Let's not bury the lead. Binance has quit Canada. Citing unsuitable regulatory conditions the world's largest exchange will no longer be available for Canadian residents. In a tweet on Friday afternoon, binance said, unfortunately, today we are announcing that binance will be joining. Other prominent crypto businesses in proactively withdrawing from the Canadian marketplace. We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users. Albeit a small market, it held sentimental value for us as the home country of our founder. We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for binance at this time. We put off this decision as long as we could to explore other reasonable avenues to protect our Canadian users, but it has become apparent that there are none. So I think at this stage, it's worth trying to get a little bit of the history and context for binance in Canada. Obviously they are identifying some recent limits and new guidance, but there is of course a history here and it's worth knowing. Luckily, Canadian crypto lawyer Jacob Robinson did a threat on exactly that. He writes finances founded in 2017 at which time Canadian residents had access to the platform for crypto transactions. On March 29th, 2021, the Ontario securities commission notified crypto asset trading platforms that they had until April 19th to contact OSC staff to discuss regulation. These discussions revolved around bringing crypto asset platforms, operations into compliance with Canadian securities laws. The collapse of quadriga and an investigative report led to quote regulatory takeaways applicable to crypto asset platforms, which spurred these conversations. But this common in talk actually led somewhere. There are ten registered crypto platforms in Canada, and many more gave pre registration undertakings with plans to register.