Binance Seeks Supreme Court Review on Jurisdiction for Freeze Orders

The Supreme Court of Canada will review an appeal brought by Binance and its affiliated companies regarding the jurisdiction for issuing freeze and management orders that involve foreign entities.

The case began in December 2025, when the Ontario Superior Court of Justice issued several orders sought by the Attorney General for Ontario to freeze offshore property allegedly representing the proceeds of a fraud. The court ruled it had jurisdiction over Binance Canada Capital Markets and Binance Canada, both Canadian corporations with head offices in Canada.

The court also found that Nest Exchange Ltd., based in Seychelles and having no physical presence in Canada, had enough of a virtual presence in Canada to be considered carrying on business there. The court noted that while Binance/Nest was shutting its business in Canada, the customers, holdings, and available transactions constituted a virtual presence through their business.