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Bybit, a cryptocurrency exchange, has decided to exit Canada due to recent regulatory developments.In a blog post on Tuesday, Bybit informed its Canadian users that starting from Wednesday, May 31, they would no longer be able to open accounts on the platform. Existing users will lose the ability to deposit funds or trade after July 31, and they are advised to close their positions by September 30 to avoid liquidation.Bybit’s departure follows several other crypto exchanges, including <a href="https://cryptosheadlines.com/binance-to-support-hard-fork-of-altcoin/" rel="noopener noreferrer nofollow">Binance</a>, OKX, Paxos, dYdX, and Bittrex, which have also left Canada due to regulatory concerns.Following the Canadian Securities Administrators’ request for crypto trading platforms to register with them or cease operations, several exchanges have chosen to exit Canada.The CSA’s requirements include implementing segregation in crypto custody, appointing a chief compliance officer, eliminating leveraged trading, and prohibiting the trading or holding of stablecoins. Many unregistered firms opted to leave the country rather than comply with these obligations, which had a deadline of March 23. <a href="https://cryptosheadlines.com/bybit-joins-exchanges-leaving-canada-while-others-show-varied-reactions/" rel="noopener noreferrer nofollow">Read More...</a>Join Cryptos Headlines Community: <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">https://linktr.ee/cryptosheadlines.com</a>

Bybit Joins Exchanges Leaving Canada, while Others Show Varied Reactions

CryptosHeadlines.com

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