Canadian Crypto Regulation Needs A Complete Overhaul, Says Coinbase Exec
CryptoNewsTerminal Staff13 Aug, 2024
Canadian Crypto Regulation Needs A Complete Overhaul, Says Coinbase Exec
Coinbase Managing Director for Canada, Lucas Matheson, recently sat down with Cointelegraph to discuss the state of crypto regulation in Canada. Matheson stated that Canadian crypto regulation needs to be modernized and see a complete overhaul. While stating that Canadian regulators have been proactive compared to their United States counterparts, Matheson also stated that there has been a lack of political will from the Canadian members of parliament when it comes to pushing crypto legislation forward. This has led to a slow and piecemeal approach to crypto regulation in Canada, which Matheson believes is not in the best interests of the country. He went on to say that, “We need a thoughtful approach to regulation that is based on an understanding of how the technology works and how it can be used to benefit Canadians.” This lack of a clear regulatory framework has led to uncertainty and confusion for businesses and investors in the Canadian crypto space. Matheson believes that this is hindering the growth of the industry in Canada and putting it at a competitive disadvantage with other countries that have taken a more progressive approach to crypto regulation.
