A committee of Canadian lawmakers has recently published a detailed report of various crypto and blockchain proposals and advantages.
The House of Commons in Canada has recently seen a report on crypto released by the Standing Committee on Industry and Technology. Canadian lawmakers who are on the committee have shown their support for crypto through the report.
Along with listing the benefits of crypto, the report also includes 16 proposals for the House of Commons and the Canadian Government. The Standing Committee is currently being chaired by Joël Lightbound, as mentioned by the report.
One of the first few proposals for the Canadian Government includes promoting the crypto and blockchains sector as an emerging industry with multiple job opportunities. The other recommendations included safe access to digital assets and individuals’ right to self-custody.
“The Committee believes that a national strategy, similar to those already in place for other key sectors, is required to clarify the government approach to regulation and demonstrate Canada’s commitment to the industry,” mentioned the report.
Further, the report explored the possibility of involving international cooperation in the process. The report claimed that the collaboration could yield regulatory policies for crypto and stablecoins, pilot projects, and banking exposure for crypto firms. Moreover, it also highlighted the importance of public awareness in the crypto industry.
The Standing Committee on Industry and Technology listed a few more recommendations to harness the full potential of the crypto sector.