Cryptocurrencies The rate of adoption continues to increase. Some countries adopt cryptocurrencies, while others impose limitations.
Finally, one of the countries that impose restrictions Canada it happened.
In this context, nine Canadian provinces have decided to limit the amount of cryptocurrency their citizens can buy in a year.
These nine provinces include Ontario, Newfoundland, New brunswick, Nova Scotia, Nunavut, the Northwest region, Prince Edward Island, Saskatchewan, and Yukon.
The states are the investors of the said decision. cryptocurrency He stated that it was bought to protect it from excessive volatility in the market.
According to the new rule, the maximum amount of crypto money that investors can buy is limited to $30,000. However, the annual limit will reset every 12 months.
It is stated that four cryptocurrencies are exempt from this limitation. In this context Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) It was stated that these crypto money purchases will not be counted from the annual purchase limit.
There was also a reaction from the important names of the crypto money industry to this decision from Canada.
In this context, David Hoffman, the founder of Bankless, expressed his disappointment and surprise at Canada’s move. Ethereum Founder Vitalik Buterin He said he was against the regulation.
“I am pleased to see the Ethereum community opposing regulations that privilege ETH over other legitimate cryptocurrencies.”
Glad to see Ethereum people pushing against regulations that privilege ETH over other legitimate cryptocurrencies.
(I have not dug into the details of what specifically is going on and to what extent it’s a gov thing vs a compliance decision of one business, but either way…) https://t.co/NDYPh5rqsk
— vitalik.eth (@VitalikButerin) August 17, 2022
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