Decisions by world leaders and regulators can significantly impact the crypto scene. Recent developments in Canada may promise positive changes.
The Need for Crypto Leadership
Canada could benefit greatly from a leader who supports the crypto space. Countries like Malta have seen significant results from crypto initiatives. While Canada's crypto adoption is not as high as in the US, its population actively engages in using digital assets. The country has approved several crypto-based ETFs earlier than the US, and crypto is widely used in gambling, generating significant tax revenue.
All About Poilievre
Pierre Poilievre announced his support for the crypto sector in 2022, emphasizing the importance of making Canada a global blockchain hub. These plans are especially relevant given the political situation in the USA. However, his reluctance to support the creation of a Central Bank Digital Currency (CBDC) has sparked controversy.
Opportunities with Poilievre
Poilievre could lead Canada to adopt more pro-crypto laws if he becomes Prime Minister. Regardless of differing opinions on CBDC, it's crucial that world leaders start discussing digital assets in their policy agendas.
Only time will tell if Poilievre becomes Prime Minister and what changes this could bring to Canada's crypto landscape.
