Canada's House of Commons Standing Committee on Industry and Technology has released a comprehensive report on blockchain technology, which includes a series of recommendations to the Canadian government to support and foster the blockchain and cryptocurrency industry. The report highlights the potential of blockchain technology to digitize untapped sectors of the economy and spark unprecedented value creation. Given this potential, the committee's first recommendation urges the government to recognize blockchain as an emerging industry with promising economic and job prospects.
The report said the regulatory environment is the main reason why Canadian companies have been less affected by recent events and that such events are significantly less likely to occur in Canada than elsewhere. It recommends the development of a national blockchain strategy, including a comprehensive review of consumer protection regulations, and a commitment to protect the right of individuals to self-custody their digital assets.
The report said the regulatory environment is the main reason why Canadian companies have been less affected by recent events and that such events are significantly less likely to occur in Canada than elsewhere. It recommends the development of a national blockchain strategy, including a comprehensive review of consumer protection regulations, and a commitment to protect the right of individuals to self-custody their digital assets.