Coinspeaker
Bybit Announces Exit from Canada Following Recent Regulatory Development
Bybit recently announced its exit from Canada due to recent regulatory developments in the North American nation. The Dubai-based crypto exchange said it is suspending its offerings to Canadian residents and exiting the country’s market today.
Bybit’s departure from Canada follows the exit of other exchanges from the country, including leading player Binance. However, other popular crypto-focused firms like Kraken, Coinbase (NASDAQ: COIN), and Gemini remain committed to Canada.
In a blog post released Tuesday, Bybit said:
“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 Dubai-headquartered exchange pointed out that it would stop accepting new ac
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