OSC: Over 30% of Canadians plan to buy cryptocurrencies in the next year

Grant Vingoe, CEO of Canada's Ontario Securities Commission (OSC), has reportedly reiterated the regulator's tech-neutral stance on cryptocurrencies, saying that many Canadians plan to become HODLers shortly. He said the same regulatory rationale for stocks and bonds applies to cryptocurrencies, with "the vast majority of cryptocurrency-based entities" falling under the purview of the Ontario Securities Commission. Regulators primarily view Bitcoin (BTC) and Ethereum (ETH) as commodities, while "agreements between trading platforms and investors" constitute securities. "We know from our research (published later this month) that more than 30% of Canadians plan to buy crypto assets in the next year," Vingoe said. Banning non-compliant companies from offering services in Canada is a challenge. With limited budgets and limited enforcement staff to cover our entire capital markets, there is only so much we can do. But we are making progress."