The crypto exchange operator Binance is leaving the Canadian province of Ontario amid regulatory action there.

Binance announced on Friday that all Ontario-based users must close all active positions by December 31, 2021.

The Ontario Securities Commission has begun legal action against unregistered crypto exchanges, including Bybit, Poloniex, and Kucoin, in the past few weeks. The regulator has alleged that these exchanges did not comply with the provincial securities laws.

Binance’s move suggests the crypto exchange operator is unwilling to register with the Ontario Securities Commission and comply with the provincial securities laws. In a similar move late last year, crypto derivatives exchange BitMEX also banned all Ontario-based users in an attempt to circumvent the region’s securities laws.

As for Binance, the crypto exchange operator received another warning from Japan’s Financial Services Agency this week. The regulator said Binance was still operating in the country without registering. A Binance spokesperson told The Block that the company “does not currently have any public trading in Japan and we are not actively recruiting Japanese users.”

The spokesman declined to comment on whether this means Japanese users can visit the Binance website and trade on their own.

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