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Ontario Securities Commission Says Binance Is Not Registered In The Region
Summary: On December 29, the Binance exchange issued a notice to Ontario users that they no longer need to close their accounts before the end of December. Binance announced in June that all users in Ontario must close all active positions before December 31, 2021. On December 30, the Ontario Securities Commission issued a public statement ...
On December 29, the Binance exchange issued a notice to Ontario users that they no longer need to close their accounts before the end of December. Binance announced in June that all users in Ontario must close all active positions before December 31, 2021.
On December 30, the Ontario Securities Commission issued a public statement stating: "Binance is not registered under the Ontario Securities Act", which means that the exchange has no right to provide derivatives or securities transactions to individuals or companies located in the region.
"No entity in the Binance group of companies holds any form of securities registration in Ontario." The statement added.
Binance mentioned in its announcement that its MSB license "enables it to continue its operations in Canada and resume operations in Ontario while undergoing a full registration." The meaning of "full registration" was not clearly stated. A Binance spokesperson told The Block: "We are applying to IIROC to become a Canadian securities and derivatives dealer."
IIROC, The Investment Industry Regulatory Organization of Canada, is a non-profit, national self-regulatory organization.
By Mary Liu
Tags: Binance,OSC,Regulation
Link: Ontario Securities Commission Says Binance Is Not Registered In The Region [Copy]
