{"id":287672,"date":"2023-01-10T18:57:31","date_gmt":"2023-01-10T18:57:31","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=287672"},"modified":"2023-01-10T22:26:01","modified_gmt":"2023-01-10T22:26:01","slug":"crypto-com-to-delist-usdt-for-canadians","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-com-to-delist-usdt-for-canadians\/","title":{"rendered":"Crypto.com to delist USDT for Canadians"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cryptocurrency exchange Crypto.com will delist USDT and USDT trading pairs on its app and platform for residents in Canada on Jan. 31 at 06:00 UTC, according to an email shared with the users of the jurisdiction.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">crypto dot com to delist USDT <a href=\"https:\/\/t.co\/3KD0gJlMkE\">pic.twitter.com\/3KD0gJlMkE<\/a><\/p>\n<p>&mdash; chortly (@charlestrussel) <a href=\"https:\/\/twitter.com\/charlestrussel\/status\/1612740555691425792?ref_src=twsrc%5Etfw\">January 10, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The firm has urged Canadian users to review their USDT balances, as Crypto.com will suspend all USDT transactions after the above-mentioned date. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Crypto.com has also announced that it will cancel all USDT spot orders and won't credit any USDT deposited in the crypto.com wallet after January 31. However, any remaining USDT balances would be converted to USDC.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A spokesperson at Crypto.com responded to CryptoSlate's queries regarding the delisting by stating that the recent move followed instructions from the Ontario Securities Commission under the terms of its registration undertaking for a restricted dealer license.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This comes after the Canadian Securities Administrators (CSA) <\/span><a href=\"https:\/\/www.osc.ca\/en\/news-events\/news\/csa-provides-update-crypto-trading-platforms-operating-canada\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> last December that it would strengthen its oversight of crypto trading platforms. A strategic goal of the CSA\u2019s <a href=\"https:\/\/www.securities-administrators.ca\/wp-content\/uploads\/2022\/10\/2022_2025CSA_BusinessPlan.pdf\">2022-2025 Business Plan<\/a> was to study the regulatory implications of stablecoins in the capital markets, including their use to trade crypto assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After the fallout of FTX, Crypto.com is under stress as asset outflows from the exchange have increased.\u00a0<\/span><span style=\"font-weight: 400;\">Nonetheless, the exchange <a href=\"https:\/\/cryptoslate.com\/crypto-com-ceo-addresses-fudsays-he-has-nothing-to-hide\/\">attempted<\/a> to ease tensions by partially disclosing its reserves through an <a href=\"https:\/\/cryptoslate.com\/per-after-binance-crypto-com-releases-its-proof-of-reserves-verified-by-mazars-group\/\">audit report<\/a> by Mazars Group, showing that all customer deposits are backed 1:1 by reserves. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this, community fears remained as there were questions about whether crypto.com was solvent. Later, Mazars <a href=\"https:\/\/cryptoslate.com\/audits-firms-armanino-mazars-ditch-crypto-clients-in-wake-of-pushback\/\">deleted<\/a> the page displaying audit reports from its website.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange Crypto.com will delist USDT and USDT trading pairs on its app and platform for residents in Canada on Jan. 31 at 06:00 UTC, according to an email shared with the users of the jurisdiction. The firm has urged Canadian users to review their USDT balances, as Crypto.com will suspend all USDT transactions after [&hellip;]<\/p>\n","protected":false},"author":1393,"featured_media":287682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,77968,32631],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto.com to delist USDT for Canadians<\/title>\n<meta name=\"description\" content=\"As per reports, the USDT delisting is in accordance with instructions from the Ontario Securities Commission.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-com-to-delist-usdt-for-canadians\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto.com to delist USDT for Canadians\" \/>\n<meta property=\"og:description\" content=\"As per reports, the USDT delisting is in accordance with instructions from the Ontario Securities Commission.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/crypto-com-to-delist-usdt-for-canadians\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T18:57:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-10T22:26:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/usdt-cryptocom.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Soumen Datta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Soumen Datta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/crypto-com-to-delist-usdt-for-canadians\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/crypto-com-to-delist-usdt-for-canadians\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/#person\",\"name\":\"Soumen Datta\",\"url\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/soumen-datta\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/10\/cs-soumen.jpg\",\"caption\":\"Soumen Datta\"},\"jobTitle\":\"Journalist\",\"description\":\"Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects. 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