Canada’s crypto sector seeks spotlight following US election’s pro-digital asset wave
The post Canada’s crypto sector seeks spotlight following US election’s pro-digital asset wave appeared on BitcoinEthereumNews.com.
The influence of cryptocurrency in U.S. politics surged during the last election, resulting in Donald Trump’s victory. Canada appears to be taking notes as its own crypto industry seeks greater recognition. While Canadian politicians still sideline crypto discussions, the country’s crypto industry hopes this will shift with the federal election just months away. Canada’s crypto sector wants to emulate the US’s industry During campaigns, Donald Trump painted himself as the “crypto candidate,” claiming his administration would implement favorable policies for the industry. He even hinted at the possibility of a national Bitcoin reserve, currying favor with crypto supporters and investors. After his election victory, Trump made an effort to nominate digital asset supporters to his administration, and even more so, BTC prices have surged by more than 40%, crossing the $100,000 mark for the first time. In addition to Trump’s active role in boosting crypto’s influence, political contributions from key industry figures further amplified the movement. The crypto sector contributed about $135 million to support candidates, with Crypto’s Fairshake PAC and affiliated super-PACs receiving funding from giants like Coinbase, Ripple Labs, and Andreessen Horowitz. In Canada, however, crypto has yet to stir much controversy in the political arena, especially given the many restrictions on candidate donations. Nonetheless, Dean Skurka, CEO of WonderFi Technologies Inc., believes it is much easier to have crypto discussions now than a month ago. He expects the current momentum to continue even if crypto players can’t make that many donations to political groups or candidates. He added: We’re hopeful, but it hasn’t quite played out that way in Canada historically, and obviously in the US, this is the first time that it’s really become an election issue. Hopefully, the positive response that it has seen will be a signal to Canadian politicians to take it seriously.…
Filed under: News - @ January 3, 2025 1:22 am