Restriction on Investments from 4 Non-Cryptocurrencies Including Bitcoin (BTC) and Ethereum (ETH) from Canada

According to Canada’s new cryptocurrency regulations, investors are prevented from investing more than $30,000 annually in cryptocurrencies other than Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

Canada, which has been on the agenda with its sanctions on cryptocurrencies since last year, has added a new one to these unexpected decisions. Within the framework of crypto currency regulations According to the new rules introduced, investors will not be able to invest more than 30 thousand dollars per year in the specified cryptocurrencies. In the new regulation restrictions, the said limit of 30 thousand dollars reset at the beginning of each year and it was emphasized that a new limit will be opened for investors.

Some of the oldest in the crypto market bitcoin, Ethereum, Litecoin and Bitcoin Cashfrom this investment limit of will be exempted specified. For other cryptocurrencies, 30 thousand dollars annual investment limit was brought. Also, this limit is not limited to cryptocurrencies and In some areas of Canada included in the restrictions.

In total, where significant proportions of population such as Ontario, Yukon, New Brunswick live 9 different regions while within these restrictions, areas such as Alberta, Quebec, Manitoba no restrictions will apply.

Although there is a limit of 30 thousand dollars, investors they will be able to make changes in their portfolios by trading. For example; A user who bought $ 30,000 X coins will have the opportunity to sell $ 5 thousand of this investment and get $ 5 thousand Y coin instead.

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