Gemini has submitted a regulatory filing to the Ontario Securities Commission (OSC) to continue operating in Canada.
The filing is a pre-registration undertaking that registers the cryptocurrency exchange as a restricted dealer, in compliance with recent Canadian securities regulations.
These regulations require crypto firms to segregate Canadian customer funds from foreign user funds and withhold certain services from residents of Canada.
Gemini’s registration in Canada will allow it to continue to serve retail users in the country with support for trading pairs involving the Canadian dollar (CAD) and other assets. Other crypto companies such as Coinbase, Kraken, Crypto.com, and Binance have also filed the same pre-registration undertaking to stay in Canada.
However, Paxos has announced it will no longer serve Canadian customers due to regulations, and other companies including dYdX, OKX, and Blockchain.com will also stop serving Canadian users.
Gemini expressed its commitment to Canada and added that the country has played an essential role in its international expansion.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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