CryptoCom Canada delist USDT

CryptoCom Canada delist USDT
Photo by Traxer / Unsplash

CryptoCom will exclude USDT, the most important Stablecoin in the crypto ecosystem, from its Canadian platform. This is ostensibly to comply with the country's regulations.

The news came to light thanks to Reddit and Twitter users. They reported that they received an email from Cryptocom.

According to the statement, users have until January 31 to withdraw or exchange USDT for any other currency. After that date, all USDT balances are automatically converted to USDC Stablecoins.

This may be due to a recent announcement by the Canadian Securities Administration (CSA). In late December, they reported that cryptocurrency platforms are prohibited from offering clients trading in assets that are "themselves securities and/or derivatives".