Canada's Crypto Industry Eyes Greater Political Influence

According to PANews, following the success of the cryptocurrency industry in the last U.S. elections, Canadian digital asset companies are applying their learned strategies. Although the next Canadian federal election is scheduled for October 2025, it could occur earlier due to the parliamentary system. Prime Minister Justin Trudeau's Liberal Party currently leads a minority government, and the opposition is expected to propose a no-confidence motion this year to challenge the government. The Canadian crypto industry aims to make digital assets a significant focus in the upcoming 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 the forthcoming elections. Instead, its goal is to "inspire the crypto advocate community" and launch a grassroots movement to facilitate dialogue between supporters, other Canadians, and their parliamentary representatives. 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 use of Bitcoin in retirement savings plans and tax-free savings accounts, as well as incorporating 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.