The San Francisco-based firm announced on its blog that starting April 7 new Canadian users will no longer be able to onboard onto the exchange. As of April 14, existing Canadian users will be moved to “close-only mode,” where they will only be able to withdraw funds. (The Logic)
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The San Francisco-based firm announced on its blog that starting April 7 new Canadian users will no longer be able to onboard onto the exchange. As of April 14, existing Canadian users will be moved to “close-only mode,” where they will only be able to withdraw funds. (The Logic)
Talking point: The company alluded that its departure was due to regulatory challenges. “We hope that the regulatory climate in Canada will change over time to allow us to resume services in the country,” the blog post said. dYdX’s exit comes a month and a half after the Canadian Securities Administrators ramped up its crackdown on the crypto industry. In February, the umbrella group for the country’s securities commissions set a 30-day deadline for crypto platforms to submit an enhanced pre-registration agreement while pursuing full registration.
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