New York, Tuesday, October 01, 2024– Crypto exchange Gemini has announced its exit from Canada, instructing all Canadian users to withdraw their assets before December 31, 2024.
In a private communication sent on Monday, the exchange, run by the Winklevoss twins, informed its customers that they have 90 days, starting from September 30, to remove their crypto and fiat from the platform.
This move follows increasing regulatory pressure from the Canadian Securities Administrators (CSA), which has imposed strict compliance requirements for crypto trading platforms.
Users are advised to transfer their digital assets to external wallets and withdraw fiat to their linked bank accounts.
Gemini is the latest in a series of major exchanges leaving Canada, including OKX, Binance, and Bybit, due to stringent regulations, particularly concerning stablecoins and investor limits.
