It is also worth noting that Binance is not the first crypto exchange to exit Canada in recent months. In February, the Canadian arm of Huobi Global, another major crypto exchange, announced that it was shutting down its operations in the country.
The recent exits of Binance and Huobi Global from Canada are a sign that the cryptocurrency industry is facing increasing scrutiny from regulators around the world. It remains to be seen how these regulations will impact the industry in the long run.
