Canada’s global economic position at risk without crypto reforms, Coinbase warns

While Canada is preparing to vote, Coinbase calls on the next government to take the crypto seriously, warning that without a clear regulation, the country could lose its competitive advantage.

As Canada approaching a federal election, the cryptographic future of the country is at stake, with JammingThe director of the Canadian country Lucas Matheson warns that if the country has been a leader in the industry, he risks becoming late and becoming less integrated into the world digital economy.

In a Wednesday blogMatheson highlighted about five million Canadians who already hold the crypto, saying that “86% of Canadians agree that their financial system could use an update”. Many also believe that the system “is not just for everyone (80%) and is disconnected (76%),” he added.

At the beginning of March, crypto.News reported That the former governor of the Bank of England Mark Carney will replace Justin Trudeau as leader of the Liberal Party and Prime Minister of Canada.

Carney’s victory is not good news for the local cryptography community because it was skeptical of Bitcoin (BTC) and has shown a preference for digital currencies of the central bank, adopting a different approach from that which is gaining ground in the United States

Regulatory obstacles have also led several exchanges of cryptography, including platforms based on the United StatesTo get out of Canada after Canadian securities administrators have introduced stricter requirements for cryptographic trading platforms, in particular stablecoins targeting.

Coinbase now asks the next government to introduce “a clear regulatory reform adapted to innovation”. The company’s proposals include the launch of a working group on the government crypto within 100 days, the establishment of a bitcoin reserve and the implementation of federal stablecoin regulations. He also wishes lighter definitions of digital assets, fewer barriers for the exploitation of cryptography and rules allowing banks to hold and use crypto.