Coinbase Halts USDT Trading for Canadian Users Starting August 31 In an email dated
August 17, Coinbase, a cryptocurrency exchange,
revealed its decision to halt trading of Tether USDT, Dai DAI, and RAI stablecoins for Canadian users starting
August 31.
This surprising development
comes shortly after Coinbase's recent announcement of its complete expansion into
the Canadian market, including trading the largest stablecoin globally,
Tether.
The exchange had officially launched
its Canadian subsidiary a few days earlier, unveiling the full range
of its services to Canadian users, including support for
Canada's instant electronic payments system, a move beyond
its previous limited trading offerings.
Nana Murugesan,
Coinbase's VP of International Business Development, shared that Canada's approach is more accommodating
than the United States, as it employs a
"regulation by engagement" strategy rather than "regulation by enforcement."
However, in a recent email to customers
on Thursday, Coinbase announced
that Tether (USDT), RAI, and DAI no longer meet the company's listing standards based
on their latest reviews.
