[Canadian Court Rules Ontario Securities Commission's Request for Binance Documents Unconstitutional] The Ontario Court of Appeal in Canada has ruled in the case of 'Binance Holdings Limited v. Ontario Securities Commission' to overturn the Ontario Securities Commission's previous extensive request for documents from Binance, deeming the request 'overly broad and unconstitutional.' The court stated that the request violated Section 8 of the Canadian Charter of Rights and Freedoms, which protects against 'unreasonable search and seizure.' The court emphasized that while privacy expectations for capital market participants are relatively low, they are still protected under the Charter, and regulatory investigations must be limited to categories of documents that are reasonably relevant. Additionally, the court found that Binance's use of encrypted communication tools like Signal does not suffice to infer an intent to evade regulation.
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