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An important message to Canadian Coinbase customers 


plommer
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Dear valued Coinbase customer,

As of August 1, Coinbase’s Canadian payments provider, Vogogo, will be shutting down its payment processing business
. When this occurs, Coinbase will no longer be able to support Canadian EFT transfers, Interac transfers, or the storage of customer CAD on Coinbase.

All customer CAD stored with Coinbase MUST be withdrawn off site or converted to digital currency by July 29th.

If you hold CAD in your Coinbase account, you must liquidate your CAD holdings before July 29th by either:

  • creating a withdrawal to your linked bank account or
  • exchanging stored CAD for digital currency.

If you are unable to withdraw or exchange your CAD before July 29th, Coinbase will suspend your account and significant fees will be incurred for CAD withdrawals.

We are disappointed to lose the ability to offer these payment methods for our Canadian customers and hope to provide additional payment methods in the future. We appreciate your support during this change.

If you have any questions regarding this or would like to contact us, please visit our Support Center
.

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any legislation change that prompted this?

No.

 

This is likely just a temporary situation at coinbase because Vogogo is shutting down.

There are other Interac e-transfer providers in Canada, it's only a matter of time before they get setup with another Canadian company.
 

Interac e-transfers are the greatest thing ever in banking. Canadians can send money via email in minutes to other Canadians from the comfort of home and the funds clear instantly in the receivers bank or credit union account. 

 

BTW: The Canadian government is very much different from the US in that it is unlikely to make legislative changes to halt gambling online.

Skrill, Neteller, Ladbrokes etc pulled out of the Canadian markets on their own, there is no legislation against online gambling transactions or funding/withdrawing.

 

Interest in any legislation regarding funding for online gambling is extremely low on the part of the Canadian government.

 

We will probably never have anything like the UIGEA. We are the land of the free'er.

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