Why did Gemini close a cryptocurrency account in Canada?

Gemini’s decision comes months after the country’s financial regulators issued guidelines for cryptocurrency exchanges and trading platforms doing business on Canadian soil. “Effective December 31, 2024, Gemini will close all customer accounts in Canada with limited exceptions.

When does Gemini close in Canada?

The Winklevoss-founded crypto exchange Gemini is set to close all customer accounts in Canada by the end of 2024. In a Sept. 30 email sent out to Canadian users of the exchange, Gemini said it would close all accounts in Canada on Dec. 31 and told users they have 90 days to withdraw assets from the platform.

Will Gemini shut down in Canada?

Gemini will shut down operations in Canada by the end of the year, according to a Monday email sent to customers. The exchange urged customers to start withdrawing their assets before December 31, 2024. Gemini adds to the list of exchanges that have fled from the Canadian market amid tough regulatory conditions.