Cryptocurrency exchange Bitfinex has asked its Ontario users to withdraw their funds since they will no longer have access to any services offered by Bitfinex in March.
Bitfinex ceases to provide services to Ontario customers
Crypto exchange Bitfinex announced on Friday that it is making changes to the services it provides to Ontario customers.
Effective immediately, the firm said that “Ontario customers who do not have balances on the platform will have their accounts closed.”
Additionally, those who do not have open positions in the platform’s peer-to-peer funding markets will no longer have access to those markets. “Ontario clients who do not have open margin or ‘borrow’ positions in our peer-to-peer funding marketplaces will no longer have access to open margin positions or engage in ‘borrowing’ “, clarified the company, adding:
Starting on March 1, 2022, Ontario customers will no longer have access to any services.
“Additionally, Ontario clients must withdraw funds from Bitfinex no later than March 1, 2022,” the exchange advised.
The Ontario Securities Commission (OSC) has been cracking down on unregistered crypto exchanges.
The Canadian regulator recently accused Binance of operating without permission. “No entity within the Binance group of companies holds any form of securities registration in Ontario,” the OSC pointed out. “This means that they are not permitted to offer transactions in derivatives or securities to persons or companies located in the province.”
