The Capital Markets Tribunal, an independent division of the Ontario Securities Commission, declined to quash the investigation into possible compliance violations at the crypto-trading giant, saying it doesn’t have the authority to do so. (The Logic)

Talking point: Binance had asked the tribunal to shut down what it called “an extremely broad inquiry” the OSC launched in May, about one week after Binance informed the Alberta Securities Commission of its plans to exit Canada and two days before it made that plan public. The inquiry—which includes a request for records of all internal communications at the company regarding Canada—can now proceed. The OSC investigation is just one of Binance’s mounting regulatory woes, which include charges from the U.S. Securities and Exchange Commission and an application for a temporary restraining order to freeze assets tied to Binance.US.