The Bank of Canada has published a Crypto Asset Ownership report with latest data from the year 2022. The report was officially published on Canadian bank’s website on July 26.Â
The paper is prepared with data collected from the annual Bitcoin Omnibus Survey (BTCOS) by the Canadian central bank.
It states that Bitcoin ownership in the country is declined to 10% in 2022 which was at 13% in the year 2021. Alongside, overall ownership of crypto assets has also decreased due to downtrading in market as well as increasing regulatory atmosphere for crypto assets in the country.
The survey data from 4,996 participants notifies that the most sought-after crypto asset was Dogecoin (DOGE) followed by Ether (ETH) and Bitcoin Cash (BCH). When it comes to holding, Ether is the most acquired altcoin.
Most Canadians have bought cryptocurrency from their mobile application. It’s also notable that despite Binance’s presence in Canada in the year 2022, Coinbase comes out as the most popular exchange to acquire Bitcoin.
The report acknowledged Canadian Securities Administrators’ (CSA) actions for the crypto industry. The CSA mandated crypto exchanges within the country to register as dealers or marketplace and comply with investor protection laws. The CSA also banned two crypto exchanges in 2022.Â
Following the increased pressure and harsh environment, leading crypto exchanges like Binance and ByBit have exited from Canada.
