Coinbase suspending USDT trading in Canada at end of month

Companies • August 17, 2023, 2:26PM EDT
Published 1 minute earlier on
The Block

Quick Take

  • U.S.-based Coinbase is suspending trading of USDT, RAI and DAI on August 31, the company said.
  • Coinbase launched in Canada earlier this week.

Cryptocurrency trading platform Coinbase will suspend trading in Canada of Tether's stablecoin, USDT, along with the DAI and RAI tokens, the company said in a statement.

"We regularly monitor the assets on our exchange to ensure they meet our listing standards," said the company by email. "Based on our most recent reviews, Coinbase will suspend trading in Canada for RAI Reflex Index (RAI), Dai (DAI), and Tether (USDT) on August 31."

Coinbase added that the suspension would not prevent customers from accessing their RAI, DAI, or USDT after the suspension begins. Prices for the three tokens appeared relatively unchanged in light of the news.

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The company had only earlier this week announced its “official launch” in Canada.

 


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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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