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Canada's Crypto Industry Seeks Greater Political Engagement

02/01 23:53

According to Odaily, following the significant success of the cryptocurrency industry in the last U.S. election, Canadian digital asset companies are now applying the lessons learned. The Canadian crypto sector aims to elevate the prominence of digital assets in elections, similar to the U.S. In July, the 'Stand With Crypto' initiative expanded to Canada, but the Canadian branch does not plan to endorse candidates in upcoming elections. Instead, its goal is to 'inspire the community of crypto advocates' and launch a grassroots movement to facilitate dialogue between supporters, other Canadians, and their parliamentary members. While cryptocurrency may not be a central political issue in Canada, the country plays a significant role in the industry. Ethereum, the second-largest cryptocurrency, originated in Canada, which is also home to the world's first Bitcoin ETF. Other lobbying efforts by the Canadian crypto industry include advocating for the inclusion of Bitcoin in retirement savings plans and tax-free savings accounts, as well as integrating crypto into open banking laws. So far, no political party in Canada has endorsed the industry, but digital asset companies are attempting to position crypto as a means to enhance affordability, a key focus in Canadian politics.

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