Paxosannounced on its website Canadaannounced its withdrawal from the market.
Paxos, as regulatory pressure becomes increasingly harsh on the industry Canada It was the last digital asset firm to announce its exit from the market. In a statement, the company urged its customers to withdraw their money as soon as possible. Paxos, May 9will close unfunded accounts until June 2 It will disable all trading operations on . However, users June 2They can also pull after .
Left Canada on OKX and dYdX
2012in the year itBitestablished as a stock exchange Paxos, whose services include digital asset brokerage, securities settlement, commodity settlement and a gold-backed digital token. PAX GoldIt was expanded to include .
Paxos While the company did not explicitly give increased regulations as reasons for its exit from the Canadian market, sources say the company left the country due to changes in crypto regulations. Paxos said in a statement on the subject: “Paxos is focused on serving institutional customers and their growth in the digital asset ecosystem. While our platform will no longer support Canadian customers in the near term, we will reassess our presence in this region as we partner with our customers’ evolving needs.”
On the company website, Ontario Securities Commission (OSC)He said he would reassess whether he is ready to re-enter the Canadian digital asset market in collaboration with the company.
Shortly before OKXAnd dYdXHe announced that he was leaving Canada. OKXblaming the new regulations in a statement last month, dYdXstated that it hopes to re-enter the market when the regulatory climate changes.
