Gemini’s exit came just a few days after the Canadian Securities Administrators released an update to crypto trading firms about stablecoins.
On Sept. 30, cryptocurrency exchange Gemini, founded by Cameron and Tyler Winklevoss, notified its Canadian users that it would be shutting down its operations in Canada.
The unexpected move has triggered many questions about the reasons behind Gemini’s exit. At the same time, Canadian authorities have been tightening regulations on the crypto industry, prompting several exchanges to withdraw from the market.
What are Canada’s new crypto regulations, and why have some exchanges decided to leave the market? This article explores the key factors behind these developments.
