{"id":582504,"date":"2023-05-31T20:34:00","date_gmt":"2023-05-31T19:34:00","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=582504"},"modified":"2023-05-31T20:34:08","modified_gmt":"2023-05-31T19:34:08","slug":"binance-probed-canadian-regulator","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/binance-probed-canadian-regulator\/","title":{"rendered":"Binance Faces Probe By Canadian Securities Regulator"},"content":{"rendered":"\n
Binance has found itself under regulatory scrutiny again, this time at the hands of a securities regulator in Canada. The Ontario Securities Commission is probing the world\u2019s largest crypto exchange to determine if it attempted to avoid local regulations and compliance controls while seeking approval to operate in the country. <\/p>\n\n\n\n
According to a report by Bloomberg<\/a>, Binance was served the probe order by the Ontario Securities Commission on May 10, 2023. Just two days after the investigation was opened, the crypto exchange announced<\/a> that it would exit the Canadian crypto market. At the time, the crypto exchange blamed its decision to depart on Canada\u2019s \u201cchallenging\u201d regulatory landscape and the recently introduced guidance for stablecoins and investor limits. The exchange did not reveal that it was being probed by one of the country\u2019s top securities regulators.\u00a0<\/p>\n\n\n\n Binance revealed the probe by the Ontario Securities Commission in a recent filing with the Capital Markets Tribunal. The investigation order didn\u2019t allege any breaches of Ontario securities laws on the crypto exchange\u2019s part. The summons issued by the securities regulator required the exchange to produce documents associated with the scope of the investigation. This includes a blanket request for \u201call communications regarding Ontario (or Canada generally) among directors, officers, employees, contractors, agents and consultants of the exchange and its associated entities. The summons was addressed to the exchange and didn\u2019t name any individual.<\/p>\n\n\n\n \u201cThe Investigation Order authorizes an extremely broad inquiry into whether Binance may have taken steps to circumvent Ontario securities law and compliance controls in relation to Binance.com or engaged in conduct contrary to Ontario securities law and\/or the public interest without any limitation.\u201d<\/p><\/blockquote>\n\n\n\n The probe from the Canadian securities regulator comes a month after Brazil\u2019s Federal Public Prosecutor\u2019s Office and the Federal Police started an investigation into Binance for allegedly offering securities to its clients by helping them evade a stop order on crypto futures. <\/p>\n","protected":false},"excerpt":{"rendered":" The Ontario Securities Commission is probing Binance to determine if the crypto exchange attempted to evade local regulations. <\/p>\n","protected":false},"author":62,"featured_media":582506,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108073,17,2,26],"tags":[1119,1087,7191,108953,7122],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582504"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=582504"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582504\/revisions"}],"predecessor-version":[{"id":582507,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582504\/revisions\/582507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/582506"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=582504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=582504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=582504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}