Cryptocurrency ownership in Canada has more than doubled over the past three years, with one in four Canadians now holding digital assets, according to new research from the Ontario Securities Commission (OSC). But while adoption is accelerating, regulators say investor understanding of the industry continues to lag behind.

An OSC survey of 2,360 Canadians conducted between December 2025 and January 2026 found that 25% of respondents owned cryptocurrencies in 2026, up sharply from 10% in 2023. The study also showed that awareness of digital assets has continued to expand, with 59% of Canadians now saying they are familiar with cryptocurrencies.

The findings suggest crypto has moved well beyond its early-adopter phase, becoming an increasingly mainstream investment among Canadian retail investors.

Investors still lack basic understanding of crypto

The rapid increase in ownership has been accompanied by signs that investors are paying greater attention to platform safety.

According to the survey, roughly half of crypto owners now check whether a trading platform is registered before using it, reflecting growing awareness of regulatory oversight following several high-profile failures across the digital asset industry.

However, the OSC said that increased caution has not translated into a broader understanding of how the crypto market operates.

The regulator found that many investors continue to misunderstand key aspects of the industry, including how cryptocurrency platforms are regulated, what protections insurance schemes actually provide and the capabilities and limitations of crypto transactions.

Naizam Kanji, the OSC's executive vice president of strategic regulation explained the phenomenon, saying,

"Crypto markets continue to evolve, and Canadians are participating in them more than ever before. By identifying emerging trends and behaviours with our research, we can look around corners, anticipate potential opportunities and risks, and ensure our regulatory approach supports investors protection while fostering fair and efficient markets."

Canada's regulators seek balance as adoption accelerates

The survey arrives as Canadian authorities continue tightening oversight of the digital asset sector.

While the OSC has focused on monitoring investor behavior and encouraging the use of regulated platforms, the federal government has taken a more interventionist approach.

Earlier this year, lawmakers advanced legislation that would prohibit political donations made with cryptocurrencies and separately proposed banning crypto ATMs nationwide over concerns that the machines are increasingly being used in fraud and money-laundering schemes.

The differing approaches reflect a broader challenge facing Canadian policymakers: protecting a rapidly growing population of crypto investors without undermining innovation in one of the country's fastest-expanding financial sectors.

As digital assets become increasingly embedded in mainstream investing, the OSC's latest findings suggest the next phase of Canada's crypto market will be defined less by adoption and more by education.

The regulator's challenge is no longer introducing Canadians to cryptocurrency—it is ensuring that a rapidly expanding investor base understands the risks, protections and regulatory framework that come with owning digital assets.