Looking to the future.

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Canadian Web3 Council’s immediate priority is to advocate for a national Web3 strategy for cryptocurrency and digital assets that supports a more transparent and inclusive digital economy.

Canadian innovators, experts, and policy makers have an opportunity to collaborate with the industry on public policy and regulatory solutions to accelerate the growth of Web3 technology in Canada.

Canada needs to develop a workable regulatory landscape. As the space is growing quickly, regulations need to keep up. We need to have the ability to attract investments in Canada to grow the Web3 sector and make Canada a leader.

Our ask of governments.

  • Provide education and awareness to enhance consumer protection, and to help Canadians realize the economic opportunities of Web3.
  • Address federal and provincial regulatory gaps and oversights. 
  • Llower regulatory barriers to entry for Canadian companies. 
  • Provide legal and tax clarity to the industry.
  • Allow crypto platforms to acquire bank accounts at leading Canadian financial institutions. 
  • Create better local access points for Canadian consumers and Canadian entrepreneurs to grow Web3 within our borders.
  • Impose realistic insurance requirements and clear audit standards.
  • Combat bad actors by ensuring user adoption of compliant products.
  • Implement regulatory oversight of foreign platforms operating in Canada.
  • Create consistent and clear regulatory standards, which would result in fair competition, sector growth, and better consumer protection.

We suggest.

  • Working with industry through open and transparent processes and consultations, with the intention of growing the sector.
  • Addressing federal and provincial regulatory gaps and providing legal and tax clarity to the industry.
  • Establishing a Single Window Initiative for the Web3 space that will streamline compliance efforts and eliminate government duplication in regulating crypto assets. 
  • Looking at crypto from a global competitiveness and payments modernization lens.

Our public submissions.