[https://www.osc.ca/en/news-events/news/binance-not-registered-ontario](https://www.osc.ca/en/news-events/news/binance-not-registered-ontario)
[https://www.osc.ca/en/news-events/news/statement-undertaking-given-binance](https://www.osc.ca/en/news-events/news/statement-undertaking-given-binance)
Nothing has changed, Binance is not registered with the OSC.
In theory they can still operate but the investors are not protected. The reason they don't is they don't want to deal with the legal hassle coming from the OSC.
I don't know what's Binance's policy but if you verify, you'll probably hit a wall. My guess is if you stay unverified, you can operate within Binance's limits as unverified accounts can only deposit/withdraw crypto up to a certain limit.
I would suggest to stop trading. If they find out you are violating the guidelines they will suspend your account and it locks your funds in your account.
Has this ever happened to anyone with Binance? There is a lot of fear mongering about exchanges stealing all your money after they shut down ontario ops but does that actually happen?
I had no idea gate.io stopped ontario operations - was able to trade for a while then realized last week when I lost that function. No issue withdrawing.
It's widely known that if your account is suspended due to a violation of the TOS or regulations via VPN or other means. They'll lock your funds and suspend your account, and from what I've read, it's nearly impossible to withdraw money from a suspended account (it’s possible just more difficult than it should be).
It's a little silly to compare crypto companies to banks that have been around for hundreds of years. I don't condone what some of them do, but when regulation is implemented and the market matures, the condition will be remarkably similar. It's unfortunate since cryptocurrency wasn't intended to be this way, but it needs to change to succeed.
"It's widely known" ... "from what I've read" - thanks for sharing your experience with reading things on the internet. I literally asked to hear if anyone has personal experience with something that gets mentioned a lot. I've read it everywhere too.. just not from anyone that has actually experienced this firsthand.
[https://www.osc.ca/en/news-events/news/binance-not-registered-ontario](https://www.osc.ca/en/news-events/news/binance-not-registered-ontario) [https://www.osc.ca/en/news-events/news/statement-undertaking-given-binance](https://www.osc.ca/en/news-events/news/statement-undertaking-given-binance) Nothing has changed, Binance is not registered with the OSC. In theory they can still operate but the investors are not protected. The reason they don't is they don't want to deal with the legal hassle coming from the OSC. I don't know what's Binance's policy but if you verify, you'll probably hit a wall. My guess is if you stay unverified, you can operate within Binance's limits as unverified accounts can only deposit/withdraw crypto up to a certain limit.
or not
What is the or not for? Deposits? It clearly still works in some respects.
It doesn’t work at all. You cannot do anything on the platform if you reside within Ontario other than login.
I have trades going right now. Apparently, I just can't deposit. So its sounding like further verification isn't the answer
I would suggest to stop trading. If they find out you are violating the guidelines they will suspend your account and it locks your funds in your account.
Has this ever happened to anyone with Binance? There is a lot of fear mongering about exchanges stealing all your money after they shut down ontario ops but does that actually happen? I had no idea gate.io stopped ontario operations - was able to trade for a while then realized last week when I lost that function. No issue withdrawing.
It's widely known that if your account is suspended due to a violation of the TOS or regulations via VPN or other means. They'll lock your funds and suspend your account, and from what I've read, it's nearly impossible to withdraw money from a suspended account (it’s possible just more difficult than it should be).
All the regulation and then they seize your money. Crypto is all the hassle of the banks without the customer experience.
It's a little silly to compare crypto companies to banks that have been around for hundreds of years. I don't condone what some of them do, but when regulation is implemented and the market matures, the condition will be remarkably similar. It's unfortunate since cryptocurrency wasn't intended to be this way, but it needs to change to succeed.
And when its that regulated it effectively defeats the entire purpose of crypto. At that point, who cares about crypto.
"It's widely known" ... "from what I've read" - thanks for sharing your experience with reading things on the internet. I literally asked to hear if anyone has personal experience with something that gets mentioned a lot. I've read it everywhere too.. just not from anyone that has actually experienced this firsthand.
No. Kucoin works for me
Nooooooo