Binance gets warning from Ontario over securities, derivatives trading

Ontario's securities regulator reprimands Binance, warning the the closely held cryptocurrency exchange that it isn't authorized to offer trading in derivatives or securities in the Canadian province. The Ontario Securities Commission said Binance had told OSC staff that no new transactions involving Ontario residents would occur after Dec. 31, 2021. However, Binance "issued a notice to users, without any notification to the OSC, rescinding this commitment. This is unacceptable," the OSC said in a statement. Binance's notice to users said it's in the process of registering in Canada, which allows it to continue operating in the country. "As a result of ongoing and positive cooperation with Canadian regulators, there is no need for Ontario users to close their accounts by Dec. 31, 202," the letter to Binance users said, according to Bloomberg News. Unregistered platforms operating in Ontario may be subject to action, including temporary orders, to ensure compliance that