A group of thirty Canadian lawmakers has published a report endorsing cryptocurrencies and blockchain technology, with 16 recommendations for the country’s government to create a national strategy on the matter.

Titled Blockchain Technology: Cryptocurrencies and Beyond, the report starts off recommending the national government “recognize blockchain as an emerging technology in Canada, with significant long-term economic and job creation opportunities.”

The House of Commons Standing Committee on Industry and Technology notes the need for clear regulation, with industry experts stating the country has fallen behind the U.S. and Europe when it comes to digital asset policies. Aydan Hyman, CEO of Chainsafe Systems is quoted saying “There is an opportunity of a generation to create regulatory clarity and clear standards so that businesses can flourish in Canada.”

Published earlier this month, the report explains the differences between cryptocurrencies and blockchain–with segments on distinguishing proof of work, proof of stake and Web3. It highlights Toronto as one of the major homes for Ethereum, citing
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Author: Pedro Solimano

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