Cryptocurrency exchange Gemini has announced that it will be shutting down all customer accounts in Canada, citing regulatory challenges as the primary reason for the decision. The company informed users via email, stating that they will have until a specified date to withdraw their funds.
This move comes amid increasing scrutiny and regulatory pressures faced by cryptocurrency platforms operating in Canada. Gemini emphasized its commitment to compliance and customer security, indicating that the decision was made to ensure the integrity of its operations.
Affected customers have been advised to transfer their assets to another exchange or wallet before the closure date. Gemini assured users that their funds would remain secure during the transition process.
This announcement marks a significant shift in the Canadian cryptocurrency landscape, highlighting the ongoing challenges for exchanges in navigating evolving regulations. As the industry adapts, Gemini’s exit from the Canadian market raises questions about the future of other platforms operating in the region.
