Canadian Lawmaker Calls For Crypto Regulatory Framework

👉 Following recent news on the Ontario Securities Commission and crypto exchanges, a Canadian lawmaker reportedly introduced a bill to create a regulatory framework this week.

👉 Bill C-249 would require Canada’s Minister of Finance to consult with designated crypto exports across each province. While many regulators are looking to clamp down on crypto activity, the Bill wants to grow the crypto sector.

👉 The Bill is titled “An Act Representing the Encouragement of the Growth of the Cryptoasset Sector.” The Bill acknowledges that crypto assets have significant economic and innovative potential in Canada.

👉 The purpose of the Bill is to focus policy on lowering barriers to entry into the sector, protect those working in the sector, and minimize administrative burden.

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