Breaking: Coinbase to suspend USDT trading for Canadian users

Users will still be able to deposit and withdraw after the deadline, but trading will be suspended.

Cryptocurrency exchange Coinbase will suspend trading of Tether (USDT), DAI, and RAI stablecoins for Canadian users beginning August 31.

In an August 17 email notice to users, Coinbase said that “we regularly monitor the assets on our exchange to ensure they meet our listing standards,” and based on its review, trading of the aforementioned stablecoins will no longer be available to Canadian users starting September.

However, Canadian users can still deposit and withdraw the stablecoins after the proposed deadline. In a statement, the exchange wrote:

“Coinbase Canada, Inc. has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Coinbase Canada, Inc. obtains registration, it has agreed to abide by the terms of an undertaking.”

This is a breaking news story, and further information will be added as it becomes available.