Under regulations set by the Canadian Securities Administrators (CSA), Canadian residents in most provinces who buy and sell cryptocurrency on crypto platforms are subject to an annual Net Buy Limit of US$23,000 worth of certain cryptocurrencies.

Eligible Crypto Investors are subject to a US$75,000 limit.

There is no Net Buy Limit for Accredited Investors.

Yes. The limits stated above do not apply if you live in any of the following provinces:

Purchases of certain cryptocurrencies do not count towards your limit and are exempt from CSA’s guidance. This includes Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Pax Dollar (USDP), and any other assets the CSA deems exempt.

The Net Buy Limit is the sum of the total amount you spend to buy non-exempt cryptocurrencies (at purchase price) minus the total amount you received by selling cryptocurrencies for dollars (at sale price) over the preceding 12 months.

For example, if you spend US$40,000 to buy non-exempt cryptocurrencies and sell non-exempt cryptocurrencies for US$15,000 over a sequential 12-month period, your net buy limit is US$25,000 ($40,000 - $15,000 = $25,000).

Trading one non-exempt cryptocurrency for another exempt cryptocurrency is net neutral. For example, trading US$10,000 of Solana (SOL) for US$10,000 of BTC is a total purchase amount of US$10,000 and an offsetting total sale of US$10,000, resulting in net US$0.

Buying an exempt cryptocurrency does not count toward your Net Buy Limit. For example, if you purchase US$10,000 of BTC and no other cryptocurrencies, your Net Buy Limit is still US$23,000 (see ‘Do any cryptocurrencies not count towards the limit?’ for details).

The period is a sequential 365 days based on the day your account is opened.

For example, if your account is opened on 1 January, the first day is 1 January, and the 365th day is 31 December. Each day begins at 08:00 UTC and ends at 07:59 UTC the next day. If you open your account on 1 January, the first day would be 08:00 UTC on 1 January to 07:59 UTC on 2 January.

This limit is based on the preceding 12 months of transactions. Whether you are above or below the limit could change monthly.

For example, if you are subject to the US$23,000 limit and the total sum of your cryptocurrency purchases (excluding the exempt cryptocurrencies) minus your cryptocurrency sales from 1 January to 31 December is US$23,000, you would have reached your limit.

But if the total sum of your cryptocurrency purchases (excluding the exempt cryptocurrencies) minus your cryptocurrency sales from 1 February to the following 31 January is US$20,000, you would not have reached your limit.

To reduce your current Net Buy Amount, you should trade your non-exempt cryptocurrencies for exempt cryptocurrencies.

According to the CSA’s guidance, certain cryptocurrencies are exempt. These include BTC, BCH, ETH, LTC, and other assets the CSA deems exempt.

In accordance with regulations, we determine your limit based on your response to the following question:

Please select the option that best describes you:

Individuals who select (1) or (2) are not subject to a limit. Individuals who select (3) or (4) are subject to a US$75,000 Net Buy Limit.

Individuals who select (5) are subject to a US$23,000 Net Buy Limit.

All customers are obligated to provide truthful answers, and we reserve the right to change your limit if we determine that the answer provided is inaccurate. However, if your circumstances change, you may inform us (see the next question).

The responses to this question are defined as follows:

For retail users, every 30 days (on the 30th day after you first informed us whether you were an Accredited Investor, Eligible Crypto Investor, or neither), you will be eligible to update your response.

For institutional users, if your investor status has changed, reach out to your account manager to update your status.

You are obligated to provide a truthful response. Crypto.com reserves the right to change your limit if your response is determined to be inaccurate.