Canadian Crypto.com users will not be able to transact with Tether

The Crypto.com cryptocurrency platform complied with the requirement of the Canadian authorities and stopped processing transactions with the stablecoin Tether (USDT).

Reddit and Twitter users reported that the exchange sent them an email informing them of the suspension of transactions with the token in Canadian jurisdiction.

Traders have until January 31st to withdraw all USDT from their wallets. If users do not withdraw stablecoins within the set timeframe, they will be automatically converted into USDC coins.

The Ontario Securities Commission (OSC) has banned Canadian investors from buying and selling digital currencies issued by companies that are at the stage of registration or refuse to undergo such a procedure.

At the same time, the Crypto.com platform has not yet published any official statements in connection with the information received.

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