“Accredited Crypto Investor” and “Eligible Crypto Investor” have specific meanings ascribed to them based on this OSC decision.

“Retail Crypto Investor” means a client that is not an Eligible or Accredited Crypto Investor.

“Restricted Assets” means digital assets available on Coinsquare, except Specified Assets.

“Specified Assets” means Bitcoin, Bitcoin Cash, Ethereum and/or Litecoin.

“Fiat currency” refers to Canadian Dollars (CAD) and US Dollars (USD) but NOT stablecoins such as USD Coin (USDC) or Dai.

As a reminder, every Retail Crypto Investor can purchase up to $30,000 CAD in Restricted Assets, and Eligible Crypto Investors can purchase up to $100,000 CAD in Restricted Assets.

Specified Assets are not subject to investment limits.

The act of making a deposit, either in fiat currency, a Specified Asset or a Restricted Asset does not affect investment limits in any way.

The act of making a withdrawal, either in Canadian Dollars, a Specified Asset or a Restricted Asset does not affect investment limits in any way.

Trades do affect investment limits under the following circumstances:

The purchase of a Restricted Asset reduces the client’s remaining investment limit, if the purchase is being made using fiat currency or a Specified Asset.

For example, a $5,000 purchase of Chainlink (LINK), a Restricted Asset, using Canadian Dollars will reduce an investor’s investment limit balance by $5,000.

A purchase of $4,000 of Apecoin (APE), a Restricted Asset, using Bitcoin as the asset sold to purchase APE, will reduce the investor’s investment limit balance by $4,000.

Purchases of Specified Assets do not affect a client’s remaining investment limit. Clients can purchase unlimited amounts of Specified Assets.

For example, buying $40,000 in Bitcoin, a Specified Asset, has no effect on an investor’s investment limit balance, even if the client is a Retail Crypto Investor who is assigned an investment limit of $30,000.

Selling Restricted Assets to obtain a fiat currency (CAD or USD), or Specified Assets like Bitcoin, have the effect of unlocking investment limit room. When a Restricted Asset is sold, the investment limit balance taken up by that purchase is reset, so investors will see their investment limit balance increase.

For example, selling $8,000 CAD-value worth of ApeCoin, a Restricted Asset, in exchange for Bitcoin, a Specified Asset, will open up $8,000 CAD in investment limit balance.

For greater certainty, regardless of the number of transactions completed that have the effect of increasing an investment limit balance, an investment limit balance will never exceed the total allowable investment limit assigned to each investor category.

Buying one Restricted Asset by selling another has no effect on investment limits.

For example, a single coin-to-coin trade selling $5,000 worth of DOGE to purchase $5,000 worth of SHIB, both of which are Restricted Assets, has no effect on the investor's remaining investment limit.

This appendix shows the effect of each potential action on the remaining investment room. The below examples are for demonstrative purposes only and do not reflect the actual value of the assets specified.