Crypto Exchange Bitfinex Stops Serving Ontario Customers Asking Uses to Raise Funds – Bitcoin News Exchange

Cryptocurrency Exchange Bitfinex has asked its Ontario users to withdraw their money as they will no longer have access to any services offered by Bitfinex in March.

Bitfinex stops providing services to Ontario customers

The crypto exchange Bitfinex announced on Friday that it is making changes to the services it provides to Ontario customers.

With immediate effect, the company said that “Ontario customers who do not have balances on the platform will have their accounts closed.”

In addition, those who do not have open positions in the platform’s peer-to-peer finance markets will no longer have access to these markets. “Ontario customers who do not have open margin positions or ‘loan positions’ in our peer-to-peer financing markets will no longer have access to open margin positions or engage in ‘borrowing,'” the company further explained, adding:

As of March 1, 2022, customers in Ontario will no longer have access to any services.

“In addition, Ontario customers should withdraw money from Bitfinex on or before March 1, 2022,” the exchange advised.

The Ontario Securities Commission (OSC) has cracked down hard on unregistered crypto exchanges.

The Canadian regulator recently fell over Binance for operating without authorization. “No entity in the Binance group of companies has any kind of securities registration in Ontario,” OSC stressed out. “This means that they are not authorized to offer trading in derivatives or securities to persons or companies located in the province.”

What do you think about Bitfinex withdrawing from the crypto market in Ontario? Tell us in the comments section below.

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection between economics and cryptography.