The Financial Consumer Agency of Canada (FCAC) has published survey-based research on Canadians’ awareness, use and understanding of stablecoins, finding that ownership remains limited but consumer knowledge is low and awareness of regulatory oversight is weak. The research also reports that roughly half of current and previous stablecoin owners experienced problems such as platform collapses, fraud or hacking, and many non-owners cite the lack of consumer protection regulation as a key deterrent. The Ipsos survey ran from December 12, 2023 to January 19, 2024 and was based primarily on a representative sample of 2,410 Canadian adults (with stablecoin owners oversampled and then weighted to census demographics). Overall, 4% reported currently owning stablecoins and 5% previously owning them, with higher ownership among men, higher-income households, younger Canadians, and respondents identifying as Indigenous (16%) or Black (9%). Knowledge measures were weak: 21% selected the correct definition, respondents averaged 18% across four stablecoin knowledge questions, and they overestimated their performance at 50% on average (a statistically significant 32 percentage point gap). Among current and previous owners, 49% reported negative experiences; 10% reported losing stablecoins due to fraud, scams or hacking, with 77% of those losses up to $10,000 and 23% between $10,000 and $60,000. On regulation, 41% of respondents supported a distinct federal approach tailored to stablecoins, 44% of non-owners pointed to the lack of consumer protection regulation as the primary reason for not holding stablecoins, and 37% said they would be more likely to consider acquiring stablecoins if redemption into fiat money were clear, simple and fast. FCAC states that the findings will inform future policy and financial literacy efforts and that it will continue research and analysis on emerging issues affecting financial consumers in Canada.
Financial Consumer Agency of Canada 2025-09-11
Financial Consumer Agency of Canada survey finds 4% of Canadians own stablecoins amid low knowledge and frequent negative experiences
The Financial Consumer Agency of Canada published research showing limited stablecoin ownership among Canadians, with low consumer knowledge and weak regulatory awareness. The survey found 49% of current and previous stablecoin owners faced issues like platform collapses and fraud, while 44% of non-owners cited lack of consumer protection regulation as a deterrent. The findings will guide future policy and financial literacy initiatives.