In order to comply with OSC securities regulations, Poloniex has updated its User Agreement to reflect that the Canadian province of Ontario has become a restricted jurisdiction. Effective January 31st, 2022, Poloniex can no longer support Ontario-based users. Said users have not been able to sign up for an account starting on July 23, 2021. Users based in Ontario are advised to take immediate actions to reduce and close all active positions by January 31st, 2022, 11:59PM UTC.
Q: I am an Ontario user, can I continue to use Poloniex via VPN?
A: Poloniex is unable to serve Ontario users moving forward due to compliance requirements. If you are accessing your account from within Ontario, it will be frozen immediately. Please kindly withdraw your funds from your account before the deadline.
Q: I have outstanding loans that will not be closed before the deadline, please help me close them.
A: If you have outstanding loans, we will extend your deadline until your loans close.
Please kindly untoggle auto-renew on your existing loans and withdraw all your funds once the loans close.
Q: Why can’t I increase my positions (Ontario Users)
A: As mentioned in our announcement, Ontario (Canada) has become a restricted jurisdiction, effective January 24th, 2022. As such, all Ontario users will only be allowed to reduce or close their existing positions moving forward. Thank you for your understanding.
Q: Why can’t I transfer any funds to my margin and futures wallet, or open any new margin or futures positions?
A: As of January 24th, 2022, you will no longer be allowed to open margin or futures positions in any markets.
Q: If I am a citizen of Poland and only reside in Ontario, can I still use Poloniex?
A: Unfortunately, residents of Ontario cannot use Poloniex and your account will be closed after you withdraw your funds. You are welcome to contact us to reopen your account once you are outside the territory of Ontario, Canada.
Q: Can I trade before the offboarding? What’s the deadline?
A: Yes, but you will be unable to increase your existing positions.
Q: What if I travel to Ontario for business/vacation? Can I still use Poloniex?
A: During the off-boarding period between January 6th and January 31st, 2022, users can still access the platform from within Ontario. However, after January 31st, 2022, all access to Poloniex from within Ontario will be blocked. You will be able to access your account after leaving Ontario.
Q: Can I still register an account without KYC from Canada?
A: You are able to sign up from any region in Canada other than Ontario.
Q: Why are you leaving the Ontario market?
A: It is a legal requirement to comply with Ontario’s regulations.
Q: Can I verify my account with an Ontario ID if I am outside of Ontario?
A: Unfortunately, if you verify your account with an Ontario ID, we need to close it.