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.
The Web3 space in Canada is regulated at the federal and provincial level by various agencies, such as:
We have much to be proud of in Canada, with several crypto regulatory initiatives first happening here, including green lighting publicly listed crypto companies, a regulatory pathway for crypto trading platforms, and the approval of spot crypto ETFs. Regulated crypto trading platforms in Canada, bolstered by strong corporate governance and investor protection policies, present considerably lower investment risks than some other jurisdictions due to our robust regulatory regime.
However, regulators are facing considerable challenges regulating the Web3 sector, where the rate of innovation and change is rapid. There are improvements that could be done to make our current regulatory framework more clear, consistent and efficient.
We believe that provincial and federal governments and industry can play an important role in creating a cohesive national approach to Web3. With our collective efforts, governments can create a harmonised regulatory framework to protect consumers and to make Canada a supportive and competitive environment for Web3 businesses
For more information on what type of regulation is needed in Canada, visit www.web3canada.ca
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:
Feel free to reach out to the writers of this course (Zeneca and Yash Bora) 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!
Zeneca, Yash, and the Canadian Web3 Council