Statement On Bitbuy’s Current Standing With Canadian Regulators

You may have seen the news that international platforms such as Binance, Kucoin and ByBit (no affiliation to Bitbuy) have decided to stop serving Ontario residents or other Canadians as a result of the recent announcement of a regulatory framework for crypto platforms.

Our users have been asking us questions about Bitbuy and our approach to Canadian securities regulators (the CSA).

Bitbuy is proud to be 100% focused on the Canadian market. We are one of Canada’s largest crypto trading platforms and have been servicing Canadians since 2016. Our head office is located in Toronto, Ontario, Canada. Our 58 staff are all Canadian.

As you may have seen in the press, the Canadian Regulators have introduced new guidelines that all crypto trading platforms servicing Canadians must comply with. The overall goal of these guidelines is to ensure there is a balance between facilitating innovation in the Canadian capital markets and upholding the regulators’ mandate of promoting investor protection and fair and efficient capital markets. Recognizing the importance of these goals, Bitbuy has been taking the necessary steps to comply with these new guidelines so that its users can benefit from a safe, fair and efficient trading environment.

Bitbuy is also registered with FINTRAC as a money services business in the virtual asset service provider category, and has a robust KYC and compliance program. We are proud to be the only crypto trading platform in Canada to have a director of our company invited to join the crypto-asset working group for the regulatory body of Canadian investment dealers (IIROC).

We plan on servicing Ontarians and Canadians for a very long time. We thank you for being a Bitbuy user and look forward to many more years of servicing your crypto asset needs in Canada.