Bitstamp to exit Canada in January

Bybit said customers will have to ‘deactivate’ accounts after Jan. 8


GagliardiPhotography/Shuttestock modified by Blockworks


Bitstamp is discontinuing services in Canada starting January 2024.

The crypto company did not give a clear reason for the exit, with CEO Bobby Zagotta saying, “This is not a decision we took lightly, and we thank our Canadian customers for their loyalty over the years. We hope to be able to serve Canada again at some point in the future.”   

“After initially informing our valued customers in March, Bitstamp will officially discontinue its services to customers in Canada starting Jan. 8, 2024. As a result, all Canada accounts will be closed and customers will no longer have access to their accounts,” Zagotta added.

Customers will be able to withdraw their funds until Jan. 8, though after that “customers must deactivate their Bitstamp accounts.”

Read more: Bitstamp ending ETH staking for US customers in September

Bitstamp is the latest exchange to exit the Canadian market, following Binance and Bybit. Other companies, such as OKX, Paxos and dydx also left earlier this year. 

“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,” Binance said back in May.

Bybit, which announced its decision to exit the market in late May, told users to close out positions by the end of September. 

The exits earlier this year came as the Canadian Securities Administrators gave crypto asset exchanges a deadline of late March to register with them and meet “pre registration requirements.”

However, on Oct. 6, the CSA announced that it may allow the trading of specific stablecoins subject to terms and conditions.

The CSA will require stablecoin issuers to hold an “appropriate” asset reserve with a qualified custodian. 

The change does not mean that the CSA is changing its stance on crypto.

“The fact that an asset satisfies these interim terms and conditions should not be viewed as an endorsement or approval of the asset, nor give any indication that the asset is risk-free,” the CSA warned.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg


The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.


Partnering with EtherFi and Angle, the fully on-chain perp DEX features bespoke collateral



Gavin Wood introduced the next evolutionary step for the Polkadot network: the Join-Accumulate Machine, or JAM


The side events were the places to be at Consensus 2024, according to attendees


Also, who’s come out swinging in the spot ether ETF fee war — and who could undercut them


I know it is not in their nature, but US regulators could learn a lot by researching the digital asset frameworks that overseas regulators have already gotten right


Also, the ETF hype train can count out at least one member