Bitcoin

Gemini, a New York-based crypto exchange, has announced the closure of all its customer accounts in <a href="https://cryptotale.org/coinbase-officially-launches-in-canada-with-interac-payment-rail/" rel="noopener noreferrer nofollow">Canada</a> by the end of the year. The exchange has urged its users, with limited exceptions, to withdraw their funds within 90 days.On Monday, the exchange sent an email to its users stating that it would cease operations from December 31, 2024. It urged its users to withdraw their funds from the platform within the specified date to avoid further risk. Additionally, the exchange provided the necessary steps to ease fund transfers.The crypto exchange advised the users to withdraw their crypto assets to an external wallet address and deposit their fiat currency into their bank account. Further, the email provided instructions for those users who do not have a bank account. The sudden exit of the exchange was taken owing to the new regulatory guidelines by the Canadian government.On February 22, 2023, the Canadian Securities Administrators (CSA) imposed new guidelines for cryptocurrency exchanges and trading platforms in the country. The notice stated that the unregistered platforms must provide a &#39;pre-registration undertaking&#39; to their main regulator. The deadline was set for 30 days.<a href="https://cryptotale.org/crypto-exchange-gemini-to-close-customer-accounts-in-90-days/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Crypto Exchange Gemini to Close Customer Accounts in 90 Days

CryptoTale

Other articles published on Oct 1, 2024

Recent Developments Impact Cryptocurrency Markets

Ripple Labs Expands Its Services with DFSA Approval

10 Reasons Why Cross-Chain Interoperability Matters: A Look at Elys Network’s Paradigm Shift in DeFi

DeFi resurgence driven by Fed cuts, China, key protocols

SEC Has Just Days to Appeal Ripple Ruling

Perpetual Demo is Live!

Join our free newsletter for daily crypto updates!