Canada has announced that it is imposing limits on investments in cryptocurrencies. According to the decision taken to protect investors, a maximum of $30,000 can be invested annually in cryptocurrencies other than Bitcoin, Litecoin, Ether, and Bitcoin Cash.
has grown in popularity in recent years, cryptocurrencies It is currently facing a major downturn that is losing serious money to investors and companies. So much so that the leading cryptocurrency Bitcoin (BTC) has recently dropped to $ 20,000, falling to its lowest levels in recent times.
While the decline in the markets continues, now from Canada A move came to protect investors. The Canadian Securities Authority (CSA) has announced that it will impose a buy limit on cryptocurrencies. The institution added that some cryptocurrencies will not be included in this.
A maximum of $30,000 can be invested in cryptocurrencies other than BTC, ETH, BCH and LTC
edit made, traders other than Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) will impose limits on their investments in cryptocurrencies. Accordingly, altcoins other than the specified cryptocurrencies are no longer available. annual investment of up to 30,000 Canadian dollars can be done. There will be no restrictions on purchases for BTC, ETH, BCH and LTC. Additionally, if investors sell their holdings within a one-year period, the amount sold will be reduced from the set limit.
It was stated that customers in British Columbia, Manitoba, Alberta and Quebec will not be covered by the application. Officials say that such a decision has been taken to protect investors from risks, and they expect exchanges in the Canadian jurisdiction to operate in accordance with this regulation. The restriction imposed only purchases made in Canadian dollars It is also among the explanations that it applies to
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Canadian regulators continue their moves as part of increasing their measures against cryptoassets. Previously, the stock exchanges in the country had begun to obtain licenses from the regulatory authorities in the country. With the current decision, restrictions were imposed on investments. In addition, the crypto investment and financial situation of the customers of the exchanges to gather information about also requested.
Source :
https://en.investing.com/news/cryptocurrency-news/canada-4-crypto-para-dsnda-altcoinlere-alm-kst-bring-2341754