As part of our commitment to regulatory compliance and investor protection CatalX has filed an enhanced pre-registration undertaking with the Alberta Securities Commission. In this undertaking CatalX has voluntarily committed to complying with certain regulatory requirements while its dealer registration application is reviewed by the provincial securities regulators. A copy of CatalX’s undertaking can be found on the website of the Canadian Securities Administrators at this link.
In connection with the above undertaking we will be making certain changes to our platform over the coming weeks (some of which you may have noticed already). Some of these key changes are described below.
Enhanced Review for Crypto Assets offered. As we previously communicated, the CatalX team is working hard to review all crypto assets that we offer for trading on our platform. The goal of this review is to provide reasonable assurance that all crypto assets offered for trading on our platform meet certain enhanced listing standards as well as Canadian regulatory requirements. This is an ongoing project and our team intends to provide you with weekly updates as we move through this process.
Enhanced Information Disclosure. CatalX will be publishing crypto asset statements which will provide our users with certain information about the crypto assets available on our platform. We will also provide additional disclosure to our users about the CatalX platform and how it operates.
Investment Limits. Provincial securities regulators in each province of Canada, other than British Columbia, Manitoba and Quebec have established annual investment limits that apply to the maximum net amount of crypto assets most crypto investors are permitted to purchase through a Canadian crypto asset platform each year. This limit has been set at $30,000, but does not apply to certain specified crypto assets including Bitcoin, Bitcoin Cash, Litecoin and Ethereum. If you are not resident in any of British Columbia, Manitoba and Quebec, CatalX will be setting up these limits on your account in the coming weeks.
Over the coming weeks we will continue to keep our users updated as these and other changes are rolled out onto our platform.