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The survey signifies that 80 per cent of economic providers respondents cited consumer demand as a significant component of their growth of cryptoasset providers, a big improve from 50 per cent in 2021.
Essentially the most generally supplied providers now embody cryptoasset buying and selling; custody, clearing, and settlement providers; and quantitative buying and selling.
Challenges and Future Prospects
Regardless of the rising acceptance, challenges stay, notably relating to the distinctive dangers related to cryptoassets, reminiscent of anti-money laundering and monetary crimes. Sadek identified the necessity for Canada’s giant monetary establishments to handle these challenges as they increase their cryptoasset providers.
Wanting ahead, the sector is poised for additional progress. “A pivotal second for cryptoassets got here in January 2024, when the US Securities and Alternate Fee (SEC) accepted spot Bitcoin ETFs,” mentioned Sadek.
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