![]() Gemini Puts An End To The Crypto Earn Program Amidst DCG Fallout.Crypto Exchange Gemini Looking to Launch Overseas Derivatives Operation: The Information. ![]() Bank of Canada launches digital dollar consultation.The affected companies will begin to reduce services in the coming weeks and months. Other companies including dYdX, OKX, and will also stop serving Canadian users. Paxos has announced that it will no longer serve Canadian customers due to regulations. Previous speculation suggested that Binance could leave the country, possibly based on its previous difficulties with the Canadian province of Ontario in 2022.Ĭertain companies plan to withdraw from Canada entirely. Competing exchanges including Coinbase, Kraken, and intend to continue operating in Canada by filing the same pre-registration undertaking.īinance also filed a pre-registration undertaking in late March to adjust its Canadian operations. Gemini is not the only crypto company that is making an effort to stay in Canada. Gemini added that Canada “has played an essential role in international expansion” and expressed its commitment to the country.Ĭrypto firms may or may not stay in Canada Canada is notable in this regard as it has approved crypto spot ETFs - something the U.S. The company also emphasized its institutional services, writing that it acts as a sub-custodian to Canadian cryptocurrency exchange-traded funds (ETFs). Gemini’s website indicates that its exchange is currently available in Canada with support for trading pairs involving the Canadian dollar (CAD) and other assets. Gemini’s decision to register in Canada means that it will continue to serve retail users in the country. Companies must additionally withhold certain services from residents of Canada. Those rules also mean that crypto firms must segregate Canadian customer funds from foreign user funds. Recent Canadian securities regulations require this registration. Gemini said that it had submitted a pre-registration undertaking to Canada’s Ontario Securities Commission (OSC) in order to register as a restricted dealer. Gemini intends to continue serving Canadians The token was delisted from several exchanges after the SEC sued Ripple in December 2020, accusing the blockchain firm of conducting a $1.3 billion unregistered securities offering.Gemini has submitted a regulatory filing through which it intends to continue operating in Canada, according to a blog post on April 12. In the aftermath of the summary judgment, leading crypto exchanges, including Coinbase, Kraken, and, announced that they would reverse the decision to suspend XRP’s trading and relist the cryptocurrency. The announcement came on July 13 following the summary judgment in the Securities and Exchange Commission’s lawsuit against Ripple. Gemini previously announced that it was exploring relisting XRP for both spot and derivatives trading. Data from the on-chain analytics platform Coinglass showed that the surge in XRP’s price also caused the liquidation of short positions worth over $2.4 million over the past 24 hours. The rally also prompted a visible uptick in the token’s daily trading volume, as well as its market capitalization. The token went from $0.61 to $0.64 in less than 24 hours. The speculation surrounding XRP’s relisting on Gemini has led to a rally of more than 4.7%. ![]() A few hours later, the crypto exchange tweeted another XRP-themed message, which reinforced the speculation about the token’s relisting. Gemini’s official X (Twitter) account posted a meme earlier today which read, “Me, the intern, patiently waiting for to list XRP.” The online crypto community interpreted it as a hint of XRP’s impending relisting. XRP’s Rally Liquidates Short Positions Worth $2.4 Million The relisting tease comes less than a month after a federal judge in New York ruled that XRP’s sales to retail investors on secondary markets did not qualify as an investment contract, handing a major victory to Ripple. In two separate crypto tweets, the Winklevoss-owned crypto exchange indicated that it would be relisting the token soon. Gemini has hinted at relisting XRP on its trading platform. XRP’s recent rally has prompted the liquidation of $2.4 million worth of short positions on centralized exchanges. Gemini previously stated that it was exploring the token after the summary judgment in SEC v Ripple. The crypto exchange has tweeted two cryptic messages teasing the crypto’s relisting on its trading platform. Winklevoss-owned Gemini recently hinted at relisting XRP leading to a 4.7% surge in its price.
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