…BINANCE SUED IN CANADA?!…

Even after Binance announced its departure from Canada in May 2023, local authorities have continued to investigate the exchange.

Ontario’s Superior Court of Justice published a certification motion on April 19 2024 for a class-action lawsuit against Binance alleging that it sold crypto derivative products to retail investors without registration.

Binance is a major global cryptocurrency exchange accounting for 58% of the total spot trading volumes among centralized exchanges as of March 2024. Apart from its leading position as a major spot crypto trading venue, Binance also operates the biggest derivatives market among other exchanges like Bybit and OKX.

Even after Binance announced departure from Canada in May 2023, local authorities have continued to crack down on the exchange. “The OSC’s investigation into the defendants is ongoing,” the court motion reads.

What could this mean for Binance and for the people who are using this platform??

What are your thoughts on canada bringing up old news to meddle with Binance??

Comment your thoughts and feelings below