As India takes the lead, Canada joins the crypto race

Canada’s crypto adoption rose to 8%, with more than 2.6 million investors currently. In the 2022 budget, a government’s plan to launch a financial sector legislative review was announced.

Quebec’s energy supplier, Hydro-Quebec, proposed cutting electricity off for blockchain operations. India also is leading crypto adoption on a global scale, but countries like Canada are also joining the race.

Although Canada is still far behind in the race, it may pick up pace given it is receiving support from the government to do the same. However, some entities continue to act as a roadblock to bring down crypto adoption.

Canada released the 2022 Budget, in which, along with multiple other policies, an address to the digitalization of money was also found. According to it, the increasing use cases and the rapid adoption of cryptocurrencies are transforming the financial systems in Canada and around the world.