Lawmakers in canada pushing blockchain and cryptocurrency to the top
Canadia lawmakers endorsing blockchain and cryptocurrencies is a good news and good steps in creating a good environment that seem impossible for US regulations.
The lawmakers suggests that the Canadian government should acknowledge blockchain as an emerging technology in the country, recognizing its potential for long-term economic growth and job creation. Honestly blockchain is the future of finance we are waiting for and if any countries plan for its future it will strengthen the financial system of those countries. And that is why Canada lawmakers emphasizes on the importance of clear regulations within the country just to promote Blockchain technology and cryptocurrency and push the country ahead in crypto regulation.
The report, which was published concerning regulations provides more explanation about the characteristics of Web3, proof of stake, and proof of work in crypto industry. It also emphasizes Toronto as a significant hub for Ethereum and other crypto big man who are from Canada. Lawmakers call for policy that will encourage crypto development and the one that will favor crypto co-founder to operate their business in the country.
Further call for clear guidelines for self-custody and makes a clear distinction for stablecoins and the problems with stablecoin trading. We all know Canadian regulation has been a tough one for crypto companies last year as many of them start to withdrawing their operation in the country when the country banned laws on leverage trading and crypto minting.
However, lawmakers asking government to promote and embrace Blockchain technology will provide crypto environment for companies in Canada. This steps will aslo contribute good to Canadian economy which I see it having a greater value in the future.
I believe this request in making crypto regulations clarity in Canada will emerge new digital innovation that will promote the country and put Canada in competitions with EU and US.
The legislators say that the government can clarify its regulatory by implementing different blockchain strategy, that will be make the country to be a leading hub in cryptocurrencies. If this all accepted by Canadian government that means a new chapter is veen written for crypto in Canada and I hope to see massive adoption soon.
I'm not sure crypto should be regulated. Haven't we the people been regulated enough? I think it is time for people to accept responsibility for their actions and do research before investing fiat anywhere. I like hive because I put in time not currency.
You're right we the people are not yet regulated. Sometimes I wonder why they call for crypto regulations without clear guidelines, I think providing clear guidelines now will help crypto adoption in Canada, EU and if US are also ready to compete they can learn how to provide clear guidelines for crypto regulations in United States
Every impartial governing body would know Blockchain is the future and embrace it
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Yes lately I think they know that. According to Canadian lawmakers they says cryptocurrencies and blockchain technology has been doing wonderful things in the society and it will be good to be part of it
Hopefully other part of the world would see it impact on Canada and chose adoption of Blockchain tech as well
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Those still struggling with it are those seeking to control it for there own benefit
!LOLZ
!HUG
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For their benefits and to strengthen then economy of the country.
I sent 1.0 HUG on behalf of @jamezmccoy1.
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