© Reuters

Pamela Draper, president and CEO of crypto platform Bitvo, has weighed in on firms escaping the Canadian market amid the regulatory environment.

Speaking to Cointelegraph at the Collision conference in Toronto on June 29, Draper said despite crypto companies like Binance, dYdX and Bybit announcing their departure from Canada in 2023, the country was “one of the few jurisdictions where there’s actually a regulatory regime in place that you can follow.” She cited cases in the United States, where Binance and Coinbase (NASDAQ:) both face lawsuits from the country’s Securities and Exchange Commission.