According to Foresight News, Binance will withdraw from the Canadian market, saying that "new guidelines related to stablecoins and investor restrictions provided to cryptocurrency exchanges make the Canadian market no longer suitable for Binance at this time. As long as we can explore other reasonable ways to protect Canadian users, we will postpone this decision, but obviously there are no such ways."

In addition, Binance stated that the remaining Canadian users will receive an email with comprehensive information on how this will affect their future accounts. "While we do not agree with the new guidelines, we hope to continue working with Canadian regulators to develop a thoughtful and comprehensive regulatory framework. We believe that we will one day return to the market when Canadian users can once again freely access a broader suite of digital assets."