Crypto Exchange Bitfinex Tells Ontario Customers to Close Accounts

Cryptocurrency exchange Bitfinex stated consumers based in Canada’s most populated province will no longer have access to any services starting March 1. No factor was provided for the relocation.

  • Bitfinex informed its Ontario consumers they ought to withdraw their funds on or prior to March 1.
  • Starting today, consumers without account balances will have their accounts closed. Those without employment opportunities on the exchange’s peer-to-peer funding markets will lose access to those markets. And consumers without open margin positions will likewise no longer have access to margin or loaning.
  • Crypto exchange giant Binance was just recently informed by the Ontario Securities Commission that it still wasn’t signed up in the province after the exchange informed consumers it was reversing an earlier choice to suspend their accounts. Binance later on stated there had actually been a “miscommunication” throughout the procedure, which “it is our leading concern to talk to the Ontario Securities Commission (OSC) and will look for to fix this misconception as quickly as possible.”
  • The OSC decreased to talk about Bitfinex’s choice, while Bitfinex did not right away react to an ask for extra information.

UPDATE (Jan. 14, 20:55 UTC):  Upgraded with OSC’s decreasing to comment in last bullet point.

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