The Industry and Technology Committee of Canada’s lower house, the House of Commons, released a major research report on blockchain development in the country.. The authors of the study emphasize that Canada needs to support and develop the distributed ledger and cryptocurrency industry.
The paper, titled “Distributed Registry Technology: Cryptocurrencies and Beyond,” highlights the potential of blockchain to digitize various sectors of the economy and increase the capitalization of businesses. To do so, according to the paper’s authors, the Canadian government needs to recognize blockchain as a new industry and accept its significant economic prospects.. At the same time, parliamentarians believe that Canada’s current regulatory policy on cryptocurrencies is working quite well:
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“The regulatory environment is a major reason why Canadian firms have not been overly affected by the cataclysms in the global cryptocurrency industry. Besides, such shocks are unlikely to happen in Canada.”
Earlier, Binance, the largest cryptocurrency exchange in the world, announced its departure from Canada.
Binance, the largest cryptocurrency exchange.