In line with regulations, Canadian crypto exchanges are introducing measures to cap the annual buy limit for selected cryptoassets at CAD 30,000 (USD 23,250) per year - and these exclude (only) four large coins.
While the cap will not impact Canadian crypto investors’ capacity to invest in some of the leading coins, it is likely to cut their purchases of a wide range of altcoins.
Canadian crypto exchange Newton said in a statement in which it explains the new limits to its users that, "over the past several months," they have been "quietly" working on our registration with the Ontario Securities Commission, as well as the securities regulatory authorities in other Canadian provinces and territories, adding:
"You may already be familiar with these changes as they impact all Canadian crypto trading platforms, not just Newton.”
Depending on the customer’s province of residence, they may have net buy limits imposed on their account.
Users will be able to see these limits on the Newton...
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