Fun

News Feed - 2023-06-29 08:06:34

Amaka Nwaokocha12 hours agoCanadian committee proposes measures to support blockchain, cryptoThe report, which consists of 16 separate proposals, highlights the advantages and potential of blockchain technology in various sectors.2197 Total views2 Total sharesListen to article 0:00NewsJoin us on social networksCanadian lawmakers in the House of Commons have shown their support for blockchain technology and cryptocurrencies in a report released by the Standing Committee on Industry and Technology (INDU).


The report, which consists of 16 separate proposals, highlights the advantages and potential of blockchain technology in various sectors. As a result of the INDU’s deliberations, the committee made recommendations that they included in the report for the consideration of the House of Commons and the government.


The report recommends the Canadian government should recognize blockchain as an emerging industry with significant long-term economic and job creation opportunities. It recommends prioritizing protecting individuals’ right to self-custody, and promoting safe and reliable access to digital assets.


Just as the country pushed for the adoption of crypto regulations, the INDU proposes that the government establish a national blockchain strategy involving experts, entrepreneurs, academics, investors and the artificial intelligence (AI) industry. The report suggests the strategy should establish a platform for information exchange and monitoring, analyze promising areas for disruption, advise the government on promising initiatives, and support the government with implementation.


The report also suggests the government pursue international cooperation in developing blockchain regulations and policies, conduct innovative pilot projects using distributed ledgers, adopt a distinct regulatory approach to stablecoins, promote the establishment of federally regulated cryptocurrency custodians, and provide access to banking and insurance services for blockchain firms.


The report stated that a public awareness campaign should be launched to educate the public about the risks related to cryptocurrencies and the benefits of accessing cryptocurrency markets through regulated Canadian entities.


Related:Crypto firms tout ‘fictitious’ regulatory stamps, Canadian regulator warns


To ensure that blockchain technology becomes mainstream, the committee encourages the government to investigate ways to promote the adoption of blockchain technology in supply chains and study the benefits of the technology for electronic voting, consultation and modernization of democratic institutions.


Recently the Canadian Department of Finance proposed legislative changes to Excise Tax Act related to crypto asset mining and remuneration. The INDU proposal recommended investigations of equity between provinces in applying the Excise Tax Act to mining activities and claimed digital asset mining constitutes a competitive industry.


Magazine:Best and worst countries for crypto taxes — plus crypto tax tips# Blockchain# Law# Canada# Government# AdoptionAdd reactionAdd reactionRelated NewsHow to buy NFTs without owning cryptoThe SEC is targeting Coinbase, Binance as proxies in its war on cryptoHow to start a career in artificial intelligenceIs Ron DeSantis good for crypto? Republican makes Bitcoin part of campaignRipple partners with Colombia’s central bank to explore blockchain technologyBinance SEC lawsuit could dent crypto exchange’s global plans

News Feed

Gamestop Launches Web3 Ethereum Wallet That Leverages Loopring’s ZK-Rollup Tech
Gamestop Launches Web3 Ethereum Wallet That Leverages Loopring’s ZK-Rollup Tech This week, the consumer electronics and gaming software retailer, Gamestop, has officially reveale
3AC-linked wallet bought NFT for $59K due to 3-year-old offer that wasn’t canceled
Christopher Roark3 hours ago3AC-linked wallet bought NFT for $59K due to 3-year-old offer that wasn’t canceledArkham data shows that a wallet belonging to failed hedge fund 3AC spent $59,000 on the Neon Village NFT fro
Biggest Movers: SOL Hits 1-Month Low on Saturday, as UNI Extends Recent Declines
Biggest Movers: SOL Hits 1-Month Low on Saturday, as UNI Extends Recent Declines Solana fell to a one-month low to start the weekend, as cryptocurrency markets moved lower ahead of
Bitcoin Cash Captured More Than 10% of Darknet Vendors Last Month
Bitcoin Cash Captured More Than 10% of Darknet Vendors Last Month 2019 was an interesting year for darknet markets (DNMs) and a number of marketplaces closed for a variety of rea
Bitcoin of America Is Working to Solve the Gender Problem in the Cryptocurrency Industry
Bitcoin of America Is Working to Solve the Gender Problem in the Cryptocurrency Industry sponsored The cryptocurrency industry has a big gender problem when it comes to female invol
Solana Triggers Long Thesis After Pushing Above $125 – Start Of A Bigger Rally?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Russian Banks Told to Track Crypto-Related Transactions Amid Currency Restrictions
Russian Banks Told to Track Crypto-Related Transactions Amid Currency Restrictions Bank of Russia has recommended commercial banks pay heightened attention to their clients’
Ray Salmond2 hours agoBitcoin price trades near key $31.7K pivot point — Can BTC bulls keep up the volume?Bitcoin started the week with a bang, but the real question is, what is driving the move and is it sustainable?3
Can ETH price crack $3.5K? Ethereum ETF debut will precede new highs, analysts say
Zoltan Vardai7 hours agoCan ETH price crack $3.5K? Ethereum ETF debut will precede new highs, analysts sayEther could set a new all-time high after the debut of the first spot Ether ETFs, but $3,500 remains a significant
Japanese Video Game Giant Konami Reveals Castlevania 35th Anniversary NFTs
Japanese Video Game Giant Konami Reveals Castlevania 35th Anniversary NFTs The Japanese entertainment conglomerate and video game company, Konami Holdings Corporation, has revealed
Analyst Who Correctly Predicted The Ethereum Price Crash Against Bitcoin Reveals Where It’s Headed Next
Este artículo también está disponible en español. The Ethereum price has returned above the $3,800 price level on the back of a 5% increase in the past 24 hours. Interest
Crypto Pundit Reveals What Will Happen If XRP Price Does Not Break $2.3
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu