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Canada
Cryptocurrency information about Canada
How many crypto owners in Canada?
It is estimated that 1.2 million people, 3.2% of Canada’s total population, currently own cryptocurrency.(1)
Canada – the next potential crypto hub?
As of 1st June 2020, cryptocurrency exchanges and payment processors are legally recognized as Money Service Businesses (MSB) within Canada.(2)
What do crypto owners in Canada look like?
More Canadian men (19.45%) had bought cryptocurrency than women (14.10%). Additionally, millennials are the largest group of crypto owners in Canada, with 31.68% of millennials owning cryptocurrency.(3)
Canada’s domestic survey on Bitcoin ownership – of which the latest edition was released in late 2019 – revealed a growth among people ages 35 and up. Not only was there are growth of 1.7 percentage in the age group of 35-to 54-year-olds, there was also a noticeable increase in the oldest age group was observed. No newer figures were available for 2020 or 2021: The period that the price of Bitcoin started the climb towards a value of 60,000 U.S. dollars.(4)
Age groups who own a cryptocurrency in Canada from 2016 to 2018:
Crypto’s rising popularity in Canada
- ETF Trends: Canadian Cryptocurrency ETFs Are Showing Monster Trading Volumes – April 2021
Volume has been astronomical in Canadian crypto ETFs after the launch of Ether ETFs on Tuesday. Bloomberg senior ETF analyst Eric Balchunas posted a screenshot to his Twitter feed on Tuesday that revealed one-third of the 25 most actively traded ETFs on the Toronto Stock Exchange were cryptocurrency funds. - CryptoNinjas: Canadian cryptocurrency exchange CoinSmart submits OSC application – April 2021
CoinSmart, a Toronto-based cryptocurrency exchange, today announced it has appointed Joe Tosti to the role of Chief Compliance Officer. Joe comes with over 20 years of experience in compliance, trading, operations, and wealth planning, having worked with some of the largest public institutions in Canada. Joe’s addition to the team follows the latest statement from the Ontario Securities Commission (OSC) announcing that crypto trading platforms must bring their operations as a dealer or marketplace into compliance with Ontario securities law. - Finextra: Canadian securities authorities outlines framework for compliance for… – March 2021
The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) today published a notice outlining securities law requirements that apply to crypto asset trading platforms (CTPs) and how they may be tailored by regulators for the CTPs business model. - Cointelegraph: Canada’s first public Bitcoin fund hits $100M mark… – October 2020
Canadian digital asset manager 3iQ has recorded a major milestone for its public Bitcoin (BTC) fund. - Cointelegraph: Canada pushes to regulate crypto adoption… – October 2019
Canada’s Central Bank has been leading working groups with global partners exploring a blockchain future. - Market Snapshot: Cryptocurrency mining is booming in Canada… – September 2018
Canada is an increasingly popular destination for cryptocurrency miners.
1. https://triple-a.io/crypto-ownership/
2. https://cointelegraph.com/news/cryptocurrency-firms-now-recognized-as-money-service-businesses-in-canada
3. https://news.coinsquare.com/digital-currency/new-survey-of-finds-significant-amount-of-canadians-interested-in-crypto/
4. https://www.statista.com/statistics/1223330/cryptocurrency-penetration-gender-canada/
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