Paxos announces exit from the Canadian market, reminding users to withdraw funds as soon as possible

ChainCatcher news, stablecoin issuer Paxos announced that it will soon exit the Canadian market and urged local users to withdraw all balances from their accounts as soon as possible. Starting from June 2, users will no longer be able to trade from their Paxos accounts, except for withdrawing funds. Customers with no funds in their accounts will have their accounts automatically closed on May 9.

In addition, the announcement stated that Paxos will work with the OSC (Ontario Securities Commission) in the future to continue assessing its readiness to re-enter the Canadian market. (source link)