“For regulatory compliance”
Crypto asset (virtual currency) exchange Crypto.com has announced that it will stop handling the US dollar stablecoin USDT in Canada.
“As part of our restricted dealer license pre-registration business, we have delisted USDT for Canadian users in accordance with instructions from the Ontario Securities Commission (OSC),” the company explained to overseas media. Not announced on Twitter.
The delisting will take effect from January 31st. USDT currency pair and deposit/withdrawal will not be available. Post-deprecation USDT balances will be automatically converted to USDC.
In December last year, the Ontario Securities Commission announced a policy to strengthen surveillance of stablecoins in terms of securities decisions.
Relation: US Tether to strengthen asset reliability of USDT