Cryptocurrency exchange Bitfinex will close the accounts of residents of the Canadian province of Ontario in March 2022. The opportunities for these users on the platform are limited as early as January, the company said in a statement. According to the notice:
“Starting on March 1, 2022, Ontario customers will no longer have access to any Services. Any Ontario customers who have open positions in our peer-to-peer financing markets are advised to immediately start exiting those positions in preparation for March 1, 2022.”
According to the statement, the exchange will close user accounts with a zero balance. Ontario residents will also lose access to margin trading and lending markets. These restrictions have probably already entered into force.
All customers affected by the changes have been advised to withdraw their funds no later than March 1, 2022. The company has not given the reason behind its decision.
The Ontario Securities Commission (OSC) has previously banned two regulated crypto exchanges, Wealthsimple and Coinberry, from trading with the stablecoin Tether (USDT).