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Every single country in the world is doing its best to encourage its population to move towards cryptocurrency. Well, Canada has one of the largest populations where cryptocurrency is moving ahead. Recently, a bill has been introduced in Canada to encourage the growth of the digital sector. Who introduced the bill in the parliament, said,” Canada should be attracting billions of dollars in investment in the fast-growing crypto-asset industry. Today I introduced a bill, the first of its kind in Canada, to make sure this becomes a reality”.
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The member of the Canadian parliament, Michelle Rempel Garner introduced Bill C-249 on Wednesday. According to the text of the bill that reads,” may be cited as the Encouraging the Growth of the Cryptoasset Sector Act”.
Conservative MP Garner also took the support of Twitter and tweeted,” Canada should be attracting billions of dollars in investment in the fast-growing crypto-asset industry. Today I introduced a bill, the first of its kind in Canada, to make sure this becomes a reality”. The latest bill requires the finance minister of Canada to develop a national framework to encourage the growth of the crypto-asset sector. Along with this, it also requires that the minister consults with individuals working in this sector.
According to the lawmaker, they explained that the officials of the Government are discussing and setting policies on crypto digital. Well, she also appointed that several lawmakers are not familiar with crypto assets, how it works, and the big potential for economic growth.
She said,” to be a world leader, Canada needs to make sure crypto-asset experts and investors are telling us what policies they need, or what policies they don’t need. This bill requires the minister of finance to formally ensure that their voices help lead policy development”.
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As per the website which was set to clarify the laws, explain the legislation, the bill doesn’t establish any particular policy for the ruling of crypto assets. The Website also describes,” the bill creates a mechanism to formally engage the expertise of crypto-asset talent in policy development so that their voices lead the way. It ensures that the experts have a say in what policy they need, or don’t need”.
