ByBit has decided “to pause the availability of our products and services” in Canada
Binance also announced ending its operations in the country this earlier month
DEX dydX and stablecoin issuer Paxos ended their operations in Canada in April
The Dubai-based crypto exchange revealed its exit from Canada on Tuesday, informing the public that it would stop opening new accounts for users beginning Wednesday.
In a post titled “Notice on Exit from Canadian Market,” ByBit said it has always been its “primary objective to operate our business in compliance with all relevant rules and regulations in Canada.” However, considering the “recent regulatory development” in the country, the company has “made the difficult but necessary decision to pause the availability of our products and services.”