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.”

Tags in this story

BitFinex, Bitfinex canada, Bitfinex Canadian users, Bitfinex Ontario, Canada, Canadian crypto market, Canadian regulator, Ontario, Ontario crypto market, Ontario cryptocurrency regulator, Ontario regulator, OSC

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.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any harm or loss caused or alleged to have been caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.

Follow us on Google News

Disclaimers for mcutimes.com

All the information on this website – https://mcutimes.com – is published in good faith and for general information purposes only. mcutimes.com does not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information you find on this website (mcutimes.com), is strictly at your own risk. mcutimes.com will not be liable for any losses and/or damages in connection with the use of our website.

Give a Comment