Canada's Crypto Adoption Soars to 25%, But Regulatory Concerns Linger

Crypto adoption in Canada has surged, according to an Ontario Securities Commission survey. The survey found that 25% of Canadians own crypto assets or funds, a significant increase from 10% in 2023 and 13% in 2022.

The survey, which polled 2,360 Canadians aged 18 and over, showed that half of crypto owners checked whether their trading platform was registered with their provincial securities regulator before buying. However, nearly half of respondents said they did not know who regulates crypto assets, and a quarter believed it is not regulated at all.

The survey also revealed that most Canadians acquire crypto through centralised platforms, with 59% leaving their holdings on the platform where they bought them. A significant number of respondents used cash savings to fund their purchases, while around one in ten used debt, including unsecured lines of credit or personal loans.