Crypto exchange Coinbase (COIN) will suspend trading with USDT, DAI and RAI stablecoins for Canadian users starting at the end of this month, the company said in an email.
“We regularly monitor the assets on our exchange to ensure they meet our listing standards,” the note sent to users reads. “Based on our most recent reviews, Coinbase will suspend trading in Canada for RAI Reflex Index (RAI), Dai (DAI) and Tether (USDT) on Aug. 31 around 12 pm ET.”
Users will be able to deposit and withdraw the impacted stablecoins following the trading suspension, the note added.
Canada rolled out tighter regulations to govern crypto exchanges this year, putting pressure on some exchanges and stablecoins operating in the country. For example, rival exchange Binance left the market in May, while Crypto.com delisted USDT from its platform this January in anticipation of the stricter rules.