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Cryptocurrency exchange Bitfinex has asked its Ontario users to withdraw their funds since they will no longer have access to the services offered by Bitfinex in March.
Bitfinex ceases to provide services to Ontario clients.
Crypto Exchange Bitfinex announced changes to its service offerings to Ontario customers on Friday.
Effective immediately, the business has stated that "Ontario customers who do not have a balance on the platform will have their account closed."
Moreover, those who do not have open positions on the peer-to-peer financing markets of the platform will no longer have access to those markets. “Ontario customers who do not have open margin positions or ‘borrowing’ positions in our peer-to-peer financing markets will no longer have access to open margin positions or engage in ‘borrowing,'” the firm further detailed, adding:
starting on march 1, 2022, ontario customers will no longer have access to any services.
"In addition, Ontario clients are expected to withdraw bitfinex funds no later than March 1, 2022," he said.
The Ontario Securities Commission (OSC) is cracking down on non-registered cryptodata exchanges.
Canada's regulator recently terminated binational operations without authorization. “no entity in the BINANCE group of companies holds any form of securities registration in ontario,” the osc stressed. "This means that they are not authorized to offer trading in derivatives or securities to persons or companies located in the province."
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