Binance Quits Canada, Traders Are Moving Towards Hybrid Exchanges

Regulation in the cryptocurrency market is a controversial topic that's currently making headlines worldwide. While some governments believe that crypto should be regulated, many projects believe this goes against the nature of cryptocurrency. 

Due to new regulations, Binance has chosen to leave the Canadian market, with Canadian users having their assets put in liquidation mode later this year. As a result, many traders are now moving towards hybrid exchanges, with one new exchange currently offering great returns during its presale. 

Binance Leaves The Canadian Market Following New Regulation

On May 12th, Binance announced via Twitter that its services will no longer be available to the Canadian market. This withdrawal, which is being called "proactive," was triggered by new guidance from Canadian regulators who are making it increasingly difficult to own cryptocurrency.  

The new rules were created by the Canadian Securities Administrators (CSA) on February 22nd and stated that Binance was required to file new preregistration undertakings and adhere to additional restrictions.

One rule that Binance singled out was that Canadian clients were no longer able to purchase cryptocurrencies that are considered securities or derivatives, with stablecoins being considered a security, according to the CSA. 

Following its announcement, Binance sent an email to all Canadian users, informing them that any open positions must be closed by the 30th of September, 2023. From the 1st of October, any remaining assets will be put in liquidation-only mode. 

Although this news is bad for Canadian Binance users, Binance has stated that it hopes to continue working with Canadian regulators to create a "thoughtful, comprehensive regulatory framework."

In the meantime, many Canadian investors are now expected to move to hybrid exchanges and centralized options such as Kraken, which has filed the new preregistration. 

Could Canadian Traders Move To This New Hybrid Exchange?

With regulation starting to impact the whole cryptocurrency market, hybrid exchanges are only going to grow in popularity. One exchange that has already attracted thousands of investors is Tradecurve. Tradecurve looks to offer DeFi and traditional financial assets for investors who want to remain anonymous and has already increased in value by 20% during its presale. 

Tradecurve has developed a long-term roadmap to becoming a top 3 global exchange, offering security, anonymity, and transparency for its users. Traders using Tradecurve will have the option to trade without passing KYC checks by simply connecting their external wallets, placing an order, and disconnecting. 

Market analysts are already excited as to what Tradecurves trading platform will bring to the market, with developers promising leverage of 500:1, innovative security protocols, and traditional assets such as stocks, forex options, and CFDs. 

Tradecurve's Stage One Presale Sells Out At Record Rates

Tradecurve has already caught the attention of crypto whales and has sold out stage one of its presale at record rates. Stage two, which is already 50% sold out, is now being compared to the Binance ICO in terms of its growth, showing that Tradecurve has the potential to become a leading exchange. 

With a number of innovative features, including copy trading, a metaverse academy, and AI trading, Tradecurve could quickly attract hundreds of thousands of users, offering the benefits of both a centralized and decentralized exchange. On its current trajectory, Tradecurve is expected to increase by 50x in value during its presale, with TCRV tokens currently selling for $0.012 per token. 

For more information about $TCRV presale tokens:

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