History of Bitcoin in Canada
Canada had the world's first bitcoin ATM (Vancouver, 2013) and North America's first bitcoin ETF (2021), but also one of the biggest crypto collapses, QuadrigaCX in 2019, which led to stricter rules for crypto trading platforms.
Facts checked 26 October 2026
Bitcoin in Canada today
- Businesses dealing in virtual currency must register with FINTRAC as money services businesses and keep a record when they receive $10,000 or more in virtual currency in a single transaction.
Timeline: bitcoin in Canada
- 2013World's first bitcoin ATM
30 October 2013. A bitcoin ATM run by Bitcoiniacs and Robocoin opened in Waves Coffee House in downtown Vancouver, billed as the first in the world. Users scanned their palms and could trade up to $3,000 a day.
- 2019QuadrigaCX collapses
The QuadrigaCX crypto trading platform collapsed; its co-founder and CEO, Gerald Cotten, had died. About 76,000 investors lost at least $169 million.
- 2020OSC: Quadriga was a fraud
11 June 2020. The Ontario Securities Commission found that Quadriga's collapse was caused by Cotten's fraud, including fake accounts and trading against clients, in effect a Ponzi scheme.
- 2021North America's first bitcoin ETF
The OSC approved North America's first bitcoin ETF and the first crypto trading platform through the regulatory sandbox in its 2020-21 year.
- 2021Rules for crypto trading platforms
29 March 2021. Canadian securities regulators (the CSA and IIROC) published a notice setting out how crypto trading platforms must comply with securities law.
- 2024FINTRAC warning on crypto ATMs
14 May 2024. Canada's financial intelligence unit warned that virtual currency ATMs were being used to launder crime proceeds, often with cash deposits just under $1,000.
FAQ
Where was the world's first bitcoin ATM?
In Waves Coffee House in downtown Vancouver, opened on 30 October 2013 by Bitcoiniacs and Robocoin, and billed as the first in the world.
What happened to QuadrigaCX?
The Canadian crypto platform collapsed in 2019 after its CEO Gerald Cotten died; about 76,000 investors lost at least $169 million, and the Ontario Securities Commission later found the collapse was caused by his fraud.
Sources (9)
- World's first bitcoin ATM opens in Vancouver - CBC News
- OSC publishes investigative report of QuadrigaCX - Ontario Securities Commission
- OSC publishes investigative report of QuadrigaCX (news release, 11 June 2020) - Ontario Securities Commission
- OSC Annual Report 2021 - Ontario Securities Commission
- The role of virtual currency automated teller machines in laundering the proceeds of crime - FINTRAC
- Mineral Commodity Summaries 2026: Gold - USGS
- 1908-2008 Annual Report 2008: Making History - Royal Canadian Mint
- Guide to the Precious Metals Marking Act and Regulations - Competition Bureau Canada
- Money services businesses (MSBs) - FINTRAC
History compiled from the sources listed, which we opened and checked in October 2026. Dates follow those sources; where they differ, we say so or leave the detail out.
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@misc{corgano2026historyofbitcoinin, author = {{Corgano}}, title = {History of Bitcoin in Canada}, howpublished = {\url{https://bitcoinprice.corgano.com/bitcoin-history/canada}}, year = {2026}, note = {Corgano Bitcoin Price, accessed 2026-10-26}}