Cetoex News – Binance will withdraw from the Canadian marketplace, the network announced today.

“We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users,” the tweet from Binance says. “Albeit a small market, it held sentimental value for us as the home country of our founder.”

We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time. We put off this decision as long as we could to explore other reasonable avenues to protect our Canadian users, but it has become apparent that there are none.Binance Official Announcement via Twitter

The remaining Canadian Binance users are currently receiving emails on how their Binance accounts will be impacted. Recently, Canada began advocating for stricter regulation on crypto platforms, which Binance disagrees with. Hence why Binance will withdraw from the Canadian marketplace.

“We are confident that we will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets,” Binance concludes.

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Cetoex News – Canada’s national police force is investigating a heist at Canada’s busiest airport. According to officials, thieves may have stolen more than $100 million worth of gold.

According to the Royal Canadien Mounted Police, the Gold was stolen from Pearson International Airport, just outside Toronto. Pearson typically receives and flies out gold that is mined in Canada, and ships it worldwide.

House Financial Services Committee Hold First Hearing on Stablecoins in 2023

Peel Regional Police, who are responsible for the area, asked for the Mounties’ help, the RCMP said. Early reports Thursday indicate that 3,600 lbs of Gold were stolen while being moved through the airport.

“We are still trying to get accurate information on the heist,” an RCMP spokesperson says, declining to confirm how much gold is missing. At current market prices, 3,600 pounds of gold would be worth about $105 million.

The investigation remains ongoing.

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Cetoex News – OpenAI, the creator of the popular AI-powered chatbot ChatGPT, is being investigated by Canadian authorities. The company is under investigation by Canada’s privacy commissioner for alleged unauthorized gathering and use of personal data.

The Office of the Privacy Commissioner of Canada (OPC) stated on April 4, that a complaint from an unidentified person prompted the investigation. Additionally, Philippe Dufresne, the chief privacy commissioner, said his office is closely monitoring AI technology. Moreover, they are trying to ensure Canadians’ privacy rights are adequately safeguarded. The OPC made no other remarks and did not indicate a restriction on Canadians’ access to ChatGPT.

Canada’s investigation into ChatGPT and OpenAI comes days after Italy temporarily banned the AI-powered chatbot for similar reasons. However, Matteo Salvini, the deputy prime minister of Italy, was surprised at the decision. Salvini tweeted on April 4 that the restriction was “excessive.”

Will other countries follow Canada and Italy against ChatGPT creator, OpenAI?

Apart from Italy, Germany, France, Ireland, and Spain are also considering possible AI-related actions.

Germany may temporarily ban ChatGPT, according to Ulrich Kelber, federal commissioner for data protection and freedom of information. Kelber spoke about the matter with the local publication Handelsblatt on April 3. However, this would occur if his commission found that the chatbot violated the General Data Protection Regulation (GDPR) of the European Union.

France’s and Ireland’s privacy watchdogs are also monitoring the Italian investigation. According to a Reuters article from April 4, both nations have contacted Italy’s authority to learn more about the reasons behind the prohibition.

According to Reuters, Spain wouldn’t rule out conducting further research into ChatGPT but claimed not to have heard of any complaints regarding the chatbot. While privacy is the OPC’s primary focus, other organizations have also expressed concerns.

In an effort to stop the distribution of potent AI systems to consumers, the Center for Artificial Intelligence and Digital Policy (CAIDP) filed a complaint with the US Federal Trade Commission (FTC) on March 30. CAIDP asserted The FTC Act’s Section 5 forbids “unfair or deceptive acts or practices in or affecting commerce.” This act also includes ChatGPT-4.

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Cetoex News – Citing its compliance with regulators in the country, Crypto.com has announced its decision to delist Tether in Canada. Decrypt has reported on a notice sent to users in the country that the cryptocurrency exchange platform will no longer support transactions involving the stablecoin.

The exchange’s support of Tether transactions will end on Jan 31, according to Decrypt’s coverage. Moreover, Crypto.com has reportedly spoken about its desire to comply with regulatory bodies in the country as its motivation behind Tether’s fate.

Crypto.com Announces Tether Delisting on January 31st

Crypto.com is one of the biggest exchange platforms on the planet, which is why many were surprised at the announcement of the delisting of Tether in Canada. The move was reported by Decrypt following a notice sent to users within the country.

A spokesperson for Crypto.com told Decrypt that the platform “delisted USDT for users in Canada in accordance with instructions from the Ontario Securities Commission (OSC),” in the statement. Furthermore, they stated it “as part of our pre-registration undertaking for a restricted dealer license,” the spokesperson added.

Canadian users were notified about the delisting via email on Tuesday. Thereafter, images of the notice began to appear on Twitter, stating the delisting to take place officially on Jan 31. Conversely, the notice made clear that trading, deposits, and withdrawals won’t be possible after the deadline. Specifically stating, “Please take urgent action to review your USDT balance and take necessary action,” in the notice.

Conclusively, the note assured users that any remaining USDT would be automatically converted to Circles’ USD Coin following the deadline. Tether is the third-largest cryptocurrency by market cap, with a total value of nearly $66 billion.

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