The Canadian operations of cryptocurrency exchanges Coinbase and Kraken will continue, according to their statements.
Coinbase claims to support Canadians.
Coinbase Canada has inked an upgraded pre-registration undertaking with Canadian securities regulators, according to a blog post published on March 30 by Coinbase.
The business went on to say that its aspirations to expand internationally include having a presence in Canada. With more than 200 engineers, Coinbase claims to have established a "tech hub" in Canada. It also claims that members of its international staff will frequently go to the country.
In addition, Coinbase said that it has appointed Lucas Matheson, a former Senior Director of Operations at Shopify, to oversee operations in Canada from Ottawa.
According to the company's declaration, its dealings with Canadian regulators were successful. Its varied assertions imply thatHowever, Coinbase is currently embroiled in a dispute with U.S. Securities regulators, who have sent the firm a Wells notice in advance of potential legal action. Kraken to also operate in Canada Kraken also said it has filed a pre-registration undertaking with Canada's Ontario Securities Commission (OSC) and aims to become a registered Restricted Dealer in the country.A government statement specifically mentions the failures of FTX, Celsius, BlockFi, Genesis, and Voyager Digital as well as the collapses of U.S.-based crypto platforms.
Among the first exchanges to formally state their intention to stay in Canada are Kraken and Coinbase. The only other exchange that has submitted a pre-registration undertaking is Crypto.com, according to the Canadian Securities Administrators.
On its website, Blockchain.com announced that it would stop offering exchange and custody services in Canada. Additionally, OKX has informed consumers that it would stop offering services in Canada.