Kraken Suspends Notable Trading Pairs…• October 28, 2023 12:35 pm • Comments
Canada is at it again. The current Canadian government, led by Justin Trudeau, has been rightly called out as being one of the biggest enemies of liberty and human freedom in the West.
Everything from the quashing of the trucker protests to the way they handled the COVID-19 epidemic has proven that Canada stands on the wrong side of history.
As part of the continued trend toward complete tyranny in Canada, the Canadian government has expanded its efforts targeting the cryptocurrency industry.
According to numerous sources and users, Kraken will be suspending several noteworthy trading pairs at the behest of Canadian regulators.
The trading pairs include all DAI, USDT, and wrapped Bitcoin and Ethereum, as well as WAXL. Users have reported receiving this email from Kraken:
Financial and economic journalist John Paul Koning explained: “Canadian securities law deems “wrapped tokens” to fall under the definition of stablecoins, and imposes strict rules on what stablecoins Canadian exchanges are allowed to list. That’s why Kraken is dropping Tether and Dai, too.”
Why is Kraken Canada dropping WETH and WBTC?
Canadian securities law deems "wrapped tokens" to fall under the definition of stablecoins, and imposes strict rules on what stablecoins Canadian exchanges are allowed to list. That's why Kraken is dropping Tether and Dai, too. pic.twitter.com/Xmco2jecTe
— John Paul Koning (@jp_koning) October 27, 2023
Coin Telegraph provided this statement from a Kraken spokesperson:
“In accordance with recent Canadian regulatory changes and following extensive consultation with the CSA and OSC, we today notified our clients that we will soon be suspending trading for USDT, DAI, WBTC, WETH, and WAXL.”
One user known as Murrieta said: “Canada has been cracking down on Crypto for a while now. Tether along with other stablecoins and WBTC and WETH will no longer be available for trading…”
— Murrieta (@ind3ntured) October 27, 2023
Navin Vethanayagam had this to say: “What do North Korea, Russia, China, Afghanistan and Canada have in common? All five of these countries don’t have access to Google’s Bard. The situation is worsening for tech and crypto in Canada. Kraken and Binance have also limited services.”
1/ What do North Korea, Russia, China, Afghanistan and Canada have in common?
All five of these countries don't have access to Google's Bard.
— Navin Vethanayagam (@NavV96) October 28, 2023
While some platforms are adjusting their asset listings, others have chosen to withdraw from the Canadian market altogether.
Notable exchanges like OKX and Binance decided to halt operations in Canada.
Specifically, OKX shut down its Canadian operations in June, while Binance revealed plans to withdraw in May.
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