Coinbase Halts Trading for RAI, DAI, and USDT in Canada
US-listed exchange Coinbase will no longer allow trading of RAI, DAI, and USDT in Canada starting August 31, 2023. This decision comes as part of Coinbase’s asset review process to ensure compliance with listing criteria. However, users will still be able to access their wallets for these tokens and perform deposit and withdrawal functions.
Main Points:
- Trading of RAI, DAI, and USDT on Coinbase will be suspended in Canada from August 31, 2023.
- Users will still have access to their wallets for these tokens and can deposit and withdraw funds.
- Coinbase has been focusing on expanding its presence in the Canadian market, offering services like Interac e-Transfer and premium support.
- Canada’s regulatory framework has become stricter, with new guidelines and enforcement actions against non-compliant platforms.
- Coinbase’s expansion plans in Canada will depend on maintaining compliance with these regulations.
Hot Take:
Coinbase’s decision to halt trading for RAI, DAI, and USDT in Canada reflects the increasing regulatory pressure in the country. By focusing on compliance and offering additional services, Coinbase aims to strengthen its position in the Canadian market. However, with stricter rules and potential enforcement actions, crypto exchanges need to adapt to the evolving regulatory landscape to thrive in Canada.
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