What is the Canada Appropriateness Questionnaire?
Uphold is required to assess whether investing in crypto assets is suitable for each potential client. This assessment is based on a short questionnaire about each client’s experience and knowledge in investing in crypto assets, their financial assets and income, and their risk tolerance. Investing in crypto assets may not be suitable for everyone, and if the results of the results of the questionnaire show that investing in crypto assets may not be for you based on these factors, we are not able to open an account for you.
Who is required to complete the Canada Appropriateness Questionnaire?
Every customer residing in Canada must now complete the questionnaire.
Can my answers affect my ability to hold an Uphold account?
Yes. Your eligibility as a Canadian resident to hold an Uphold account will depend upon your answers to the questionnaire.
If I make a mistake, can I retake the questionnaire?
No. You may only take the questionnaire once.
The answers you provide will determine your eligibility to hold an Uphold account. If your answers do not meet the threshold, you won’t be able to retake the questionnaire.
Do these rules apply to investors outside of Canada?
No. These rules apply only to Canadian customers.