{"id":7538,"date":"2022-02-11T00:40:02","date_gmt":"2022-02-11T00:40:02","guid":{"rendered":"http:\/\/egrowonline.com\/?p=7538"},"modified":"2022-02-11T00:40:02","modified_gmt":"2022-02-11T00:40:02","slug":"canadian-conservative-mp-pushes-for-crypto-framework","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=7538","title":{"rendered":"Canadian Conservative MP Pushes for Crypto Framework"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<section class=\"article-key-takeaways\">\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>Canadian Conservative MP Michelle Rempel Garner has introduced Bill C-249, which aims to create a crypto framework.<\/li>\n<li>The bill, if put into law, would have Canada\u2019s Minister of Finance consult with provincially-designated crypto experts.<\/li>\n<li>Bill C-249 is meant to promote the growth of the crypto sector and ensure that lawmakers understand cryptocurrency.<\/li>\n<\/ul>\n<\/section>\n<section class=\"article-share top\">\n<h4>Share this article<\/h4>\n<\/section>\n<p>A Canadian Member of Parliament has introduced a bill that aims to make lawmakers interact with cryptocurrency experts.<\/p>\n<h2>Garner Introduces Bill C-249<\/h2>\n<p>Conservative MP Michelle Rempel Garner introduced <a target=\"_blank\" href=\"https:\/\/www.parl.ca\/DocumentViewer\/en\/44-1\/bill\/C-249\/first-reading\" rel=\"noopener noreferrer\">Bill C-249<\/a>, titled \u201cEncouraging the Growth of the Cryptoasset Sector Act,\u201d in Canada\u2019s House of Commons on Wednesday, Feb. 9.<\/p>\n<p>If it is approved, the bill would create a framework demanding that Canada\u2019s Minister of Finance consult with crypto experts designated by provinces and territories. Garner said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/MichelleRempel\/status\/1491515963996471300?ref_src=twsrc%5Etfw\" rel=\"noopener noreferrer\">videoclip<\/a> that officials and lawmakers are setting policies despite being unfamiliar with cryptocurrency, and that this act could solve that problem.<\/p>\n<p>The framework would \u201cfocus on lowering barriers to entry\u201d in the cryptocurrency sector and would also \u201c[protect] those working in the sector\u201d while reducing administrative burdens.<\/p>\n<p>Garner\u00a0 also stated that \u201cCanada should be attracting billions of dollars in investment in the fast-growing cryptoasset industry.\u201d The proposal is meant to encourage growth in the sector.<\/p>\n<p>Bill C-249 has already gained support from Hut 8 Mining, a Canadian crypto mining company <a target=\"_blank\" href=\"https:\/\/www.newswire.ca\/news-releases\/hut-8-statement-on-tabling-of-new-legislation-regarding-blockchain-and-digital-currency-in-canada-823414061.html\" rel=\"noopener noreferrer\">that says<\/a> it is consulting with lawmakers. Shark Tank host Kevin O\u2019Leary also <a target=\"_blank\" href=\"https:\/\/twitter.com\/kevinolearytv\/status\/1491518545968173058\" rel=\"noopener noreferrer\">commented<\/a> on the bill, stating that he could \u201clead billions of investment [dollars]\u201d into Canada if the country creates a sound cryptocurrency policy.<\/p>\n<p>Though the bill has been put forward by a Conservative MP, Canada\u2019s current Minister of Finance is Chrystia Freeland, a member of the Liberal Party. Some expect Freeland to succeed Justin Trudeau, the current Prime Minister of Canada, as leader of that party.<\/p>\n<h2>Canada Is a Little-Known Crypto Hotspot<\/h2>\n<p>Canada\u2019s cryptocurrency industry is rarely discussed. Nevertheless, the country has some advantages in the area.<\/p>\n<p>The Canadian provinces of Quebec and <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/fidelitys-spot-bitcoin-etf-starts-trading-in-canada\/\" rel=\"noopener\">Toronto<\/a> were among the first regions in the world to approve Bitcoin spot ETFs, an investment vehicle that has still not been approved in the United States.<\/p>\n<p>Quebec is also a major center for Bitcoin mining due to its inexpensive hydroelectric energy and cool temperatures. Canada <a target=\"_blank\" href=\"https:\/\/www.visualcapitalist.com\/after-chinas-crypto-ban-who-leads-in-bitcoin-mining\/\" rel=\"noopener noreferrer\">currently provides<\/a> about 9.6% of the global Bitcoin mining hashrate, according to recent data from Global X ETFs.<\/p>\n<p>Canada is also home to <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/who-is-vitalik-buterin-co-creator-ethereum\/\" rel=\"noopener\">Vitalik Buterin<\/a>, the Russian-Canadian programmer who created the Ethereum blockchain.<\/p>\n<p><em>Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.\u00a0<\/em><\/p>\n<section class=\"article-share bottom\">\n<h4>Share this article<\/h4>\n<\/section>\n<section class=\"article-footer\">\n<div class=\"disclaimer\">\n<div class=\"disclaimer-content\">\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/terms-and-conditions\" rel=\"noopener\">full terms and conditions<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"recommended-posts\">\n<div class=\"section-content\">\n<div class=\"posts-list\">\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/fidelitys-spot-bitcoin-etf-starts-trading-in-canada\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">Fidelity\u2019s Spot Bitcoin ETF Starts Trading in Canada<\/h3>\n<p>\nFidelity, the world\u2019s third-largest wealth management firm with over $4.2 trillion in assets under management, has launched a spot Bitcoin exchange-traded fund (ETF) on the Toronto Stock Exchange. Fidelity Launches&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item na-item\" data-na_id=\"108611\" data-na_location=\"recommended\">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/phemex.com\/academy\/what-is-a-crypto-airdrop\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">What is a Crypto Airdrop: Why Projects Airdrop Crypto<\/h3>\n<p>\nCrypto airdrops occur when new\u00a0tokens\u00a0are freely distributed to different\u00a0wallets\u00a0in order to drive initial growth and build a community. They represent a popular marketing tactic that new projects use to spread&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/canada-cbdc-might-be-beneficial-central-bank\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">Canada CBDC \u201cMight Be Beneficial\u201d: Central Bank<\/h3>\n<p>\nThe Bank of Canada has released a staff paper detailing several benefits of CBDC adoption, citing smart contract functionality as a major boon.\u00a0 Canada Explores CBDC Benefits\u00a0 Canada\u2019s central bank&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/canadians-securities-regulator-approves-bitcoin-mutual-fund-listing\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">Canada\u2019s Securities Regulator Approves Bitcoin Mutual Fund Listi&#8230;<\/h3>\n<p>\nThe Ontario Securities Commission, Canada\u2019s SEC-equivalent, has ratified the initial public offering (IPO) for a Bitcoin mutual fund product. New Bitcoin Mutual Fund in Canada The company filing system in&#8230; <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/canadian-conservative-mp-pushes-for-crypto-framework\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Canadian Conservative MP Michelle Rempel Garner has introduced Bill C-249, which aims to create a crypto framework. The bill, if put into law, would have Canada\u2019s Minister of Finance consult with provincially-designated crypto experts. Bill C-249 is meant to promote the growth of the crypto sector and ensure that lawmakers understand cryptocurrency. Share [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[3114,4913,62,3098,598],"class_list":["post-7538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-canadian","tag-conservative","tag-crypto","tag-framework","tag-pushes"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/02\/canflag-768x403.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7538"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7538\/revisions"}],"predecessor-version":[{"id":7540,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7538\/revisions\/7540"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/7539"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7538"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}