יציאת הקריפטו של קנדה: Bybit Walks Away 

• Several crypto exchanges have chosen to leave Canada in recent months.
• Bybit has joined the growing list.
• The country recently opted to tighten its crypto rules.

בעקבות קריסת FTX בנובמבר 2022, some jurisdictions have chosen to tighten rules for crypto businesses. One such jurisdiction is Canada.

Several crypto firms have, however, opted to leave the North American country in response to these tighter restrictions. These firms include OKX in March and Binance on May 12. 

In the latest instance, עקיפה has announced plans to pause operations in the country.

Bybit Walks Away From the Canadian Market 

ב בלוג on Tuesday, May 30, Bybit announced that it would be exiting the Canadian market, citing regulation changes.

"It has always been Bybit's primary objective to operate our business in compliance with all relevant rules and regulations in Canada. In light of recent regulatory development, Bybit has made the difficult but necessary decision to pause the availability of our products and services," the firm wrote in its statement to customers.

The firm has notably stopped onboarding Canadian customers with plans to cease deposits and trading operations for existing Canadian customers from July 31. 

Bybit has urged customers to close open positions before September 30 or face liquidation. Liquidated funds would, however, still be available for withdrawal after this period, according to the crypto exchange headquartered in Dubai.

In recent months, the Canadian Securities Administrators have urged crypto exchanges to register with them or cease operations. As part of so-called התחייבויות לרישום מראש, crypto exchanges seeking to register with the CSA must commit to separating customer deposits from operational funds and have a chief compliance officer. Exchanges must also scrap leverage trading and support for stablecoins.

Canada is not the only country experiencing a crypto exodus, as several crypto businesses based in the United States have also begun to focus efforts abroad in the wake of a regulatory crackdown.

על השפתיים 

• Not all crypto exchanges seek to leave Canada, as firms like מטבע and Kraken have committed to pre-registration undertakings.
• On Monday, May 30, Bybit הודיע that it had received in-principle approval to operate in Kazakhstan.
• In April, Bybit revealed תוכניות to expand to Hong Kong.

למה זה חשוב 

Bybit’s decision to exit the Canadian market underscores the increased difficulty crypto businesses face in the country.

Read this to learn more about Binance’s exit from Canada:

יציאת Binance קנדה משאירה פיצול קהילת קריפטו 

Sam Bankman-Fried has placed his former law firm in the spotlight in hopes of shirking punishment for fraud charges. Find out more:

FTX Fraud Case: SBF Shifts Blame, Points Finger at Former Law Firm

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• מקור: https://dailycoin.com/canada-crypto-exodus-bybit-walks-away/