in Canada, cryptocurrency A draft law that will encourage the growth of the sector in the country is being discussed.
The member of parliament, who created the bill, made the following statements on the subject:
“Canada can receive billions of dollars in investment thanks to the rapidly growing crypto industry. Today, for the first time in Canadian history, I have introduced a bill that aims to make that happen.”
Bill Submitted to Promote Cryptocurrency Industry in Canada
The “Draft Law C-249” presented by Michelle Rempel Garner can also be called the “Act to Encourage the Growth of the Crypto Asset Industry”.
Under the bill, the Canadian Ministry of Finance will be responsible for “preparing a national infrastructure that will encourage the development of the cryptocurrency sector.” In addition, the ministry bitcoin and will also consult with people working in the crypto industry.
“Canadian Authorities Will Consult Experts on Crypto Assets”
Garner said that government officials in the country are discussing cryptoassets and setting policies, but these officials have limited knowledge of what cryptoassets are and how they work, and are unaware of their potential for economic growth.
Garner continued to convey his thoughts as follows:
“For us to be a leader in the world, Canada needs to consult with crypto-asset experts and investors. These experts should tell us which policies they need and which they don’t. With this bill, we will make sure that crypto-asset experts assist us in policy development.”
The details of the bill include that the country’s Ministry of Finance should prepare a cryptocurrency incentive infrastructure within three years.