According to certain reports circulating on social media in the past few days, one of the most popular cryptocurrency exchanges, Crypto.com, has decided to delist tether (USDT) for Canadian users. Many on Twitter are claiming that the platform will delist the currency in every country where it operates, but that is not the case. The crypto exchange has given its customers time until January 31st to withdraw or convert their USDT, after which time the funds of all Canadian customers will be automatically converted into USD Coin.
Crypto.com announced it would be operating in Canada just in August, when the Ontario Securities Commission accepted the exchange’s pre-registration for undertaking financial operations in the country. This meant that customers would have known since then that they would have to eventually convert or withdraw their USDT, as exchanges operating in the Canadian province of Ontario are prohibited from listing digital assets banned by the Securities Commission, which in fact included USDT.
