Crypto.com removes USDT from the list of available assets for residents of Canada

At the request of the Ontario Securities Commission (OSC), the Crypto.com cryptocurrency exchange will remove the Tether (USDT) stablecoin from the listing of assets available to users in the region. Crypto.com announced that Tether support for residents of the region will end on January 31. The exchange invited USDT holders to complete all transactions before the deadline, as well as convert or withdraw stablecoin deposits from exchange accounts. “Crypto.com will delist USDT for Canadian users in accordance with OSC guidelines as part of our obligation to pre-register for a limited dealer license,” a spokesperson for the exchange said. After January 31, remaining USDT balances will be automatically converted to USD Coin. The decision to delist Tether followed a clarification from the Canadian Standards Association (CSA), which interprets stablecoins as stock market instruments. Previously, the Securities and Exchange Commission (SEC) of the Philippines warned the public against investing in the Tether Pay cryptocurrency project, which is not registered with the country's regulators.