The Canadian Lawmaker Michelle Rempel Garner presented Bill C249 -to support Cryptoassets


On February 9,
parliament member of Canada, Michelle Rempel Garner presented "Bill
C-249", proposing the government set up a structure to support the
development of the Cryptoasset Sector Act in the country.
Conservative MP
Garner 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 bill
requires the Canadian Finance minister "to develop a national framework to
encourage the growth of the crypto-asset sector." Furthermore, it requires
the minister "to consult with persons working in the sector."
The lawmaker
clarified that government authorities are talking about and setting approaches
on crypto assets. In any case, she brought up that many officials are not
profoundly acquainted with what crypto assets are, how they work, or their huge
potential for monetary development.
“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,” she
emphasized. “This bill requires the minister of finance to formally ensure that
their voices help lead policy development.”
As indicated by
the text of the bill, "Within three years after the day on which this Act
comes into force, the minister must prepare a report setting out the framework
and must cause the report to be tabled in each House of Parliament on any of
the first 15 days on which that House is sitting after the report is
completed."
As indicated by
the site set up to clarify the regulation, the bill doesn't lay out a specific
arrangement for the guideline of cryptocurrency. "Instead, this bill
creates a mechanism to formally engage the expertise of crypto assets 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," the site
portrays.
The bill has the
support of Alberta-based crypto miner Hut8, who reported not long after the
perusing that it supported cooperative efforts by Parliament to reinforce the
Blockchain ecosystem in Canada. Shark Tank star Kevin O'Leary - a HODLer who
holds Canadian citizenship - alluded to giving "billions of investment"
dollars into the nation assuming there was a clear policy system on crypto.

Joyashree Dey
CBW - External Analyst
INDIA