The legislation has the support of crypto miner Hut8 and Shark Tank star Kevin O'Leary, who holds Canadian citizenship
Michelle Rempel Garner, a member of the House of Commons of Canada, has introduced a bill proposing the government set up a framework to encourage the growth of the cryptocurrency sector in the country.having Canada’s Minister of Finance — currently Chrystia Freeland, a member of the country's Liberal Party — consult with industry experts to develop a regulatory framework aimed at boosting innovation around cryptocurrencies.
“Cryptoassets have significant economic and innovative potential for Canada,” said the bill. “The framework must, among other things, focus on lowering barriers to entry into the cryptoasset sector while protecting those working in the sector and minimizing the administrative burden.” Under Canadian law, a bill can become law by undergoing a first, second and third reading in either the House of Commons or the Senate, passed to the other chamber for a similar process, then given Royal Assent — i.e. signed into law by the Governor General. A member of Canada’s Conservative Party, currently a minority in the House of Commons, Garner would need support from other parties for the crypto bill to succeed.
Garner."This bill creates a mechanism to formally engage the expertise of cryptoasset innovators and investors in policy development and create a framework for growth." Canada should be attracting billions of dollars in investment in the fast growing cryptoasset industry.Learn more about my bill at
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