{"id":404446,"date":"2022-02-10T19:45:00","date_gmt":"2022-02-10T16:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/canadian-mp-introduces-bill-aimed-at-encouraging-growth-in-crypto-sector\/"},"modified":"2022-02-10T19:45:00","modified_gmt":"2022-02-10T16:45:00","slug":"canadian-mp-introduces-bill-aimed-at-encouraging-growth-in-crypto-sector","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/canadian-mp-introduces-bill-aimed-at-encouraging-growth-in-crypto-sector\/","title":{"rendered":"# Canadian MP introduces bill aimed at encouraging growth in crypto sector"},"content":{"rendered":"

“# Canadian MP introduces bill aimed at encouraging growth in crypto sector <\/strong>”
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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.<\/p>\n

In the first reading of Bill C-249 in the House of Commons on Wednesday, Garner proposed<\/a> having Canada\u2019s Minister of Finance \u2014 currently Chrystia Freeland, a member of the country’s Liberal Party \u2014 consult with industry experts to develop a regulatory framework aimed at boosting innovation around cryptocurrencies. The bill, titled the \u201cEncouraging the Growth of the Cryptoasset Sector Act,\u201d would also require the Finance Minister to report on the framework and introduce legislation within three years of passage. <\/p>\n

\u201cCryptoassets have significant economic and innovative potential for Canada,\u201d said the bill. \u201cThe 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.\u201d<\/p>\n

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 \u2014 i.e. signed into law by the Governor General<\/a>. A member of Canada\u2019s Conservative Party, currently a minority in the House of Commons, Garner would need support from other parties for the crypto bill to succeed. She said on Twitter<\/a> that she hoped<\/a> to avoid \u201cpolitical polarization\u201d in attempting to grow the space.<\/p>\n

“To be a world leader, Canada needs to make sure cryptoasset experts and investors are telling us what policy they need or what policy they don\u2019t need,”\u00a0said<\/a> 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.”<\/p>\n

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Canada should be attracting billions of dollars in investment in the fast growing cryptoasset industry.<\/p>\n

Today I introduced a bill, the first of its kind in Canada, to make sure this become a reality.<\/p>\n

Learn more about my bill at https:\/\/t.co\/htCy7rrZD6<\/a> pic.twitter.com\/krmmTIOTt6<\/a><\/p>\n

\u2014 Michelle Rempel Garner (@MichelleRempel) February 9, 2022<\/a><\/p><\/blockquote>\n