Bitstamp to Discontinue Services in Canada
Bitstamp, a cryptocurrency exchange, has announced that it will be ending its services for customers in Canada. The decision, which was initially communicated to Canadian customers in March, will take effect on January 8, 2024. Bobby Zagotta, the CEO and Global Chief Commercial Officer at Bitstamp, expressed the company’s gratitude towards its Canadian customers and acknowledged the difficulty of the decision. He stated that all Canadian accounts will be closed and customers will no longer have access to their accounts.
Bitstamp’s Hope for Future Return
Despite this withdrawal from the Canadian market, Bitstamp has expressed its hope to return in the future. Zagotta thanked Canadian customers for their loyalty and mentioned that the decision was not taken lightly. The specific reasons behind Bitstamp’s exit from Canada are unknown. Canadian customers are advised to follow the provided instructions for withdrawing funds and deactivating their accounts before the deadline.
Bitstamp joins other exchanges like Binance and Bybit in withdrawing from the Canadian market. OKX, Paxos, and DYDX had previously departed earlier in the year.
Hot Take: Bitstamp Ends Services in Canada, Aiming for Future Return
Bitstamp has made the difficult decision to discontinue its services for customers in Canada starting January 8, 2024. Despite this withdrawal, Bitstamp hopes to serve Canada again in the future after expressing gratitude towards its loyal Canadian customers. The reasons behind this move remain unclear. This follows similar actions by other exchanges that have left the Canadian market. Canadian customers are encouraged to follow instructions for account deactivation and fund withdrawal before the deadline.
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