In March 2022, the cryptocurrency exchange Bitfinex will close the accounts of residents of the Canadian province of Ontario. Access for these users on the platform has already been restricted as early as January, according to the company.
Bitfinex is making changes to the Services we provide to Ontario customers.
Please read the full announcement for more details on who is impacted: ⬇️https://t.co/ju3Y20R8Og
— Bitfinex (@bitfinex) January 14, 2022
“Starting March 1, 2022, Ontario customers will lose access to any services. Users with open positions in our peer-to-peer financing market are advised to immediately begin withdrawing funds from those positions,” the notice said.
According to the statement, the exchange will close accounts with zero balances. Ontario residents will also lose access to margin trading and lending markets. These restrictions have likely already taken effect.
All clients affected by the changes were advised to withdraw funds no later than March 1, 2022. The company did not disclose the reason for such a decision.
Earlier, the Ontario Securities Commission (OSC) barred two regulated cryptocurrency exchanges — Wealthsimple and Coinberry — from working with the Tether (USDT) stablecoin.
As a reminder, in August 2021 the OSC accused the OKEx exchange of violating securities laws. In the spring, the regulator brought similar claims against KuCoin-affiliated companies.
In June, Binance announced that could no longer continue servicing Ontario users.
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