Canada's Blockchain Embrace: A Boost for Coinbase and Crypto

Cryptoglobe
Cryptoglobe

29 Jun 2023 9:05 AM

Coinbase welcomes the Canadian Parliamentary Committee's recommendations, recognizing the potential of blockchain and crypto....

  • The Canadian House of Commons Parliamentary Standing Committee on Industry and Technology (INDU) released a report exploring blockchain technology and cryptocurrency use cases in Canada.
  • The report includes 16 recommendations, acknowledging the value and utility of blockchain technology.
  • Coinbase, as part of its International Expansion strategy, is excited about the recommendations and their potential for the Canadian market.
  • The report highlights the recognition of blockchain as an emerging industry, the need for consumer protection and regulatory clarity, the establishment of a national blockchain strategy, and an innovative regulatory approach to cryptocurrencies and stablecoins.
  • The committee recommends the federal government recognize blockchain as an emerging industry with economic and job creation opportunities.
  • Improving consumer protection and regulatory clarity in the digital assets field is emphasized.
  • The committee suggests establishing a national blockchain strategy in consultation with provinces and stakeholders.
  • Innovative pilot projects using distributed ledgers and a distinct regulatory approach for stablecoins are recommended.
  • Coinbase supports the recommendations and believes they can propel Canada forward as a leader in the crypto economy.

The overall sentiment of the article is positive. It highlights the recognition and support for blockchain technology and cryptocurrency in Canada, with Coinbase expressing excitement about the recommendations and their potential impact on the Canadian market.

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