This summer, the Bank of Canada announced a decline in investor interest in digital assets. There was a decrease in the number of owners of Bitcoin (BTC), Ethereum (ETH), and other altcoins, as noted by the regulator.

However, by autumn, the activity of Canadian investors increased due to the rise in BTC value to its highest level since last spring. The country's leading crypto exchanges, Bitbuy and Coinsquare, recorded a 16% increase in the number of users conducting transactions daily.

The total volume of digital assets held on Bitbuy and CoinSquare exceeded 1 billion Canadian dollars (736 million US dollars), according to data from the WinderFi press service, which owns these platforms. In the third quarter of 2023, the volume of assets was 695 million Canadian dollars (512 million US dollars), and the trading volume increased by 52%.

Bitbuy and Coinsquare are legal participants in the Canadian market, having the appropriate licenses. Meanwhile, global exchanges such as Binance, ByBit, and OKX served local clients without official registration, leading to the suspension of their operations in Canada until they obtained official permission under pressure from local authorities.