Canada-based cryptocurrency exchanges Bitbuy and Toronto based Newton have imposed new rules on their respective platforms, restricting users based in Ontario to an annual limit of $30,000 CAD on the purchase of “restricted coins.”
On Newton “net buy limit” applies to all altcoins, excluding Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC).
The limit resets every 12 months from the first purchase of restricted coins.
On Bitbuy customers are classified as
‘Retail’ – limited to $30,000 purchases,
‘Eligible’ – limited to $100,000 purchases,
‘Sophisticated’ Investors – no purchase limits.