Canada lawmakers call for national blockchain strategy

Canada lawmakers call for national blockchain strategy

Time Stamp: June 30, 2023 6:50 AM
Source Node: 2739359

Key takeaways:

A Canadian legislative committee is urging the government to establish a national blockchain policy that explains the nation’s regulatory stance. 

The report’s recommendations aim to establish a comprehensive national strategy that positions Canada as a leader in blockchain technology.

In a recent development, lawmakers in Canada have called for the establishment of a national blockchain strategy. Recognizing the transformative potential of blockchain technology, Canadian officials are seeking to create a comprehensive framework to harness its benefits across various sectors. 

In a report titled “Blockchain Technology: Cryptocurrencies and Beyond,” lawmakers in Canada have put forward 16 recommendations urging the national government to recognize blockchain as an emerging technology in the country. The report emphasizes the significant long-term economic benefits and job creation opportunities associated with blockchain.

The recent call for a national blockchain strategy in Canada comes as positive news for the cryptocurrency landscape in the country, especially considering the regulatory crackdown on crypto exchanges that has been ongoing for some time. 

Exchanges like Bybit and Binance have faced challenges due to regulatory actions, making the need for a comprehensive strategy even more significant.

This proposal has also  received plaudits from crypto behemoth Coinbase, which regards Canada as a crucial market for its global expansion

Big news from Canada. Canadian lawmakers have published a comprehensive report supporting blockchain technology. Learn more: https://t.co/Jx8f5asbvi — Coinbase

Time Stamp:

More from BITRSS