Yunus Taşlı 
Kraken, Suspends Operations in Canada! The exchange, with a decision related to customer emails, also aims to ensure the highest level of compliance by closely monitoring exchange operations and assets. A Kraken representative stated, “We constantly monitor assets on our platform to comply with the strictest compliance standards in the crypto industry.” According to the spokesperson’s statement:
“As a result of regulatory changes in Canada and comprehensive consultations with CSA and OSC, we have announced that we will soon suspend USDT, DAI, WBTC, WETH and WAXL transactions for customers.”
Such suspensions may not be new for Canadian users, as similar decisions were frequently taken throughout 2023. Also Coinbase announced in August that it had halted USDT, DAI, and RAI transactions.
Such difficulties have led to crypto exchanges leaving the country. Binance decided to withdraw from the country, while OKX announced in June that it had halted its activities in the country. At the moment, there is no indication that Kraken intends to make a similar decision.
You might like: Historic Rise in Bitcoin Ethereum Options!
According to the email, as of November 30, deposit and trading transactions for the related assets will end. Then, starting from December 4, users will no longer be able to withdraw money from the related assets. Kraken will phase out as it suspends operations in Canada, citing compliance with policies.
In the final section of the email, we announced that we would convert all remaining assets to US dollars at the “current market rate” as of December 5 and transfer them to users accounts.
In the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.