Binance has received a license to provide crypto services in Canada

The company's unit was registered on December 1 and has a valid permit until the end of 2024

27.12.2021 - 12:25

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What’s new? Binance has registered its internal unit in Canada to work with digital assets. The platform's CEO Changpeng Zhao said on his Twitter account that the company has received approval from the authorities.

Boxing day. 🇨🇦 https://t.co/XmnyQIODLT— CZ 🔶 Binance (@cz_binance) December 27, 2021

What is known about the company? Binance Canada Capital Markets was established as a money service business (MSB) that will allow transactions with digital assets, money transfers, and foreign currencies. It was registered on December 1 and has a valid license until the end of 2024.

What does the CEO say? The exchange is tightening its rules to meet the wishes of the supervisory authorities. Changpeng Zhao said that Binance welcomes the industry regulation and cooperates with regulators around the world. On the platform's blog, he posted:

“Overregulation will kill the industry in the local market, and hence make the local market miss out on the next FinTech evolution. But proper regulation will allow the industry to grow faster, not slower.”

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