Landmark Report: Canadian Lawmakers Advocate for Comprehensive Blockchain Strategy

Crypto News
Crypto News

29 Jun 2023 9:45 AM

Canadian lawmakers' recent report has recognized blockchain, crypto, and mining as innovative industries with "significant, long-term" potential, in need of better regulation....

  • Canadian lawmakers have released a report recognizing blockchain, crypto, and mining as innovative industries with significant long-term potential.
  • The report emphasizes the need for better regulation to attract investments and drive innovation in the Canadian economy.
  • The report includes 16 recommendations, such as establishing a national blockchain strategy, creating a sandbox for testing technologies, adopting distinct regulations for stablecoins, and promoting access to banking and insurance services for blockchain firms.
  • Coinbase has praised the report, describing it as "landmark" and "promising," and highlighting the government's willingness to collaborate with the crypto/blockchain industry.

The sentiment towards the report and its recommendations is positive, with Coinbase describing it as "landmark" and "promising."

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You May Ask

What industries did Canadian lawmakers recognize as having significant long-term potential?What was the motivation behind the need for better regulation in the blockchain and crypto industries?How many recommendations were included in the report, and what are some of them?How did Coinbase respond to the report, and what did they highlight about the government's approach?

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