What’s Next for Canada and How Do I Learn More?

By: Peter, Yash, Zeneca

Congratulations, you’ve completed our 12 days of Web3 course! Before we leave you to explore more on your own, we wanted to ensure you had an understanding of how Web3 is regulated in Canada and what’s next for the industry.

How Is Web3 Regulated in Canada?

The Web3 space suffers from a piecemeal regulatory approach with unclear boundaries between different agencies (for example: Canadian Securities Administrators vs. Bank of Canada). This creates a system where operators are burdened with competing compliance requirements. It is important to acknowledge that regulators are facing considerable challenges regulating a sector where the rate of innovation and change is unprecedented. Crypto trading has existed for over a decade, for example, but newer models, such as staking and lending, have only emerged in the past few years. Regulators and industry urgently need the government to intervene with clear policy objectives and the legislative guidance to provide legal, regulatory and tax clarity so regulators can effectively regulate this sector. 

For more information on what type of regulation is needed in Canada, visit www.web3canada.ca or https://web3canada.ca/policy/ 

How Do I Learn More?

Web3 is an endless rabbit hole. You could spend 24/7 learning about it and still be just scratching the surface. Here are some great ways to dive in further:

1. Visit the Odyssey Learn Portal and pick your learning path (e.g., Intro, DeFi, NFT, DAO). Contribute to writing these paths by joining our community.
2. Check out some of the threads that Yash has written on how to get started, web3 protocols, web3 vs. web2, and ways to earn web3 passive income.
   
3. Check out Peter’s curious beginners guide to web3 article.
   
4. Sign up for ZenAcademy’s 30 Days of NFTs course for a deeper dive on NFTs.

Remember, there is no one right way to “do web3”. However, the crypto playground is big enough for everyone, and the best way to get started is to get your hands dirty.

Feel free to reach out to the writers of this course (Zeneca, Yash Bora and Peter Yang)  on Twitter with any questions you have. Getting people excited about web3 is so much fun for us – we’d love to help in any way we can!

Thanks,

Zeneca, Peter, and Yash