Binance to Cease Operations in Ontario, Informs OSC
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Some of these commitments were “ceasing opening new Ontario accounts,” “ceasing trading in existing Ontario accounts, with exceptions to protect investors, along with winding down its businesses in certain products,” and “providing fee waivers and offering fee reimbursement to certain Ontario users.”
Binance also asserted that it would make reports to OSC staff and keep an independent third party to enforce its commitment efforts and implementation.
Binance halted its operations in Ontario in June last year and told all Ontario users that it would automatically close all active positions by December 31, 2021. The exchange noted in its letters to Ontario users that on December 2021:
“Binance confirmed to Staff that the trading restrictions were in place for Ontario accounts and would remain so, including (a) no trading by existing Ontario users, (b) no new Ontario users, and (c) no marketing targeted at Ontario users.”
However, on December 29, 2021, the giant exchange informed Ontario users that it had been granted permission to continue its operations in Ontario. At the time, the OSC released a memo saying: “Binance has issued a notice to users, without any notification to the OSC, rescinding this commitment. This is unacceptable.” The exchange later acknowledged that this announcement was incorrect.
The exchange noted in its letter: “Despite the representations made to [OSC] staff and investors, Ontario investors were able to continue to trade after the restrictions were supposedly in place.” The exchange also acknowledged that its previous announcement was inaccurate.
Key Binance Coin Levels to Watch — March 21
Following a decent bullish comeback last week, Binance Coin (BNB) recorded a mild correction over the weekend as the price dipped back below $400 and tapped the $385 low. However, we can observe a bullish build-up this morning, with the broader crypto market posturing to revive last week’s trend.
The 4-hour stochastic indicator shows that a bullish rally is underway as bulls target the $400 resistance. That said, bullish confirmation should come from a corresponding crossover on the MACD indicator, which should drive BNB towards the $420 level in the coming days.
Meanwhile, my resistance levels are $400, $410, and $420, and my support levels are $390, $380, and $370.
Total Market Capitalization: $1.88 trillion
Binance Coin Market Capitalization: $65.2 billion
Binance Coin Dominance: 3.4 %
Market Rank: #4
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