A growing number of Canadians are transferring cryptocurrencies such as Bitcoin (CRYPTO: $BTC) overseas.

A new report from Chainalysis says that crypto transfers from Canada to foreign countries reached $2.36 billion U.S. in this year’s first half, up 141% from the same period in 2025.

The majority of crypto sent offshore from Canada was transferred to digital wallets and exchanges located in India, China, and the Philippines.

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The money was moved in small, frequent amounts. According to blockchain data analytics firm Chainalysis, the average amount of crypto transferred from Canada…