Canadian lawmakers publish recommendations in support of blockchain adoption


29 Jun 2023 3:00 AM

A committee of Canadian lawmakers has published a report soliciting the government to act on blockchain regulation....

  • The Canadian House of Commons' Standing Committee on Industry and Technology has published a report on blockchain technology, with recommendations to support the blockchain and cryptocurrency industry.
  • The report highlights the potential of blockchain technology to digitize unexplored sectors of the economy and create value.
  • The committee recommends acknowledging blockchain as an emerging industry with economic and employment prospects.
  • It suggests crafting a national blockchain strategy, reviewing consumer protection regulations, and protecting individuals' rights to self-custody digital assets.
  • The committee also proposes a distinct regulatory approach to stablecoins and the need for educational initiatives and a sandbox environment for entrepreneurs.

The article portrays a positive sentiment towards Canada's comprehensive approach to blockchain and cryptocurrency regulation, positioning it as a beacon of regulatory clarity.

Go to publisher site

You May Ask

What is the focus of the Canadian House of Commons' Standing Committee on Industry and Technology's report?What are the recommendations made in the report to support the blockchain and cryptocurrency industry?How does the committee view the impact of Canadian regulations on recent events in the cryptocurrency industry?What is the committee's proposal to solidify Canada's leadership in the digital assets arena?What are the key areas addressed in the report's recommendations besides regulatory approaches?

Suggested Reads