The post Donald Trump US Election Win Inspire Canada’s Crypto Leaders, Here’s How appeared on BitcoinEthereumNews.com.

Donald Trump’s victory in the US presidential election, along with a wave of pro-crypto candidates winning their races, has sparked interest among Canada’s cryptocurrency leaders. The crypto industry in the US invested heavily in these elections, spending $135 million to support candidates through initiatives like the Crypto’s Fairshake PAC and other super PACs. Donald Trump’s US Election Win Spurs Crypto Advocacy Efforts in Canada According to a Bloomberg report, Donald Trump’s presidential victory and the success of pro-crypto candidates in the US elections have led to increased interest among Canadian crypto advocates. The US crypto industry invested $135 million in supporting candidates through campaigns such as Crypto’s Fairshake PAC, backed by Coinbase, Ripple Labs, and Andreessen Horowitz. In response, Canada’s crypto leaders are focusing on grassroots advocacy rather than campaign funding due to Canada’s strict donation limits. Stand With Crypto, a US-based advocacy group, expanded its efforts to Canada in mid-2023. The advocacy group is mobilizing local communities to engage with policymakers and raise awareness about digital assets. As Canada’s interest in cryptocurrency advocacy grows, it recently marked a regulatory milestone with USDC issuer Circle. The stablecoin issuer became the first stablecoin provider to meet the new Value-Referenced Crypto Asset (VRCA) guidelines set by the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA). This approval ensures USDC’s continued availability on compliant Canadian platforms. Focus on Policy Reforms and Stablecoin Regulation Canada’s cryptocurrency industry has identified key areas for policy reform, including the regulation of stablecoins, retirement plan exposure to Bitcoin, and tax-free savings account options for crypto. Canadian Securities Administrators introduced stricter rules in late 2023, limiting the listing of stablecoins on crypto trading platforms. These regulatory challenges have led to the exit of major platforms like Binance, Bybit, and OKX from the Canadian market. Industry leaders argue…

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Filed under: News - @ January 3, 2025 12:26 am