Canadian Crypto Industry Leaders Create Non-profit Organization

Tuesday, 29/03/2022 | 19:49 GMT by Felipe Erazo
  • The non-profit is aimed to push for regulation in the domestic crypto industry.
  • Dapper Labs, Ledn, Ether Capital and Wealthsimple are part of the Council.
bitcoin

Canadian cryptocurrency industry leaders have launched a non-profit organization named Canadian Web3 Council, aimed to push for regulation in the country. According to Global News, the organization was founded by Connor Spelliscy and Jelena Djuric.

The founders have been looking to push for regulation across the crypto and blockchain sphere in Canada amid growing interest in the sector. Additionally, there are representatives from Dapper Labs, Ledn, Ether Capital and Wealthsimple involved in the Council.

“As the industry has grown into a multi-trillion-dollar asset class, now is the time for the government to work alongside industry leaders to ensure thoughtful policy is formed,” Spelliscy and Djuric said in a joint statement. They added: “Although there are regulatory challenges when it comes to this nascent industry, the Canadian Web3 Council can work alongside regulators to help them understand and navigate this complex space.”

According to the statement, a national strategy for cryptocurrency and digital assets is the Council’s first priority.

From launching non-fungible token platforms like CryptoKitties and NBA Top Shot to founding Ethereum, Canadian entrepreneurs have played a significant role in blockchain and digital assets. With Web3 technology, the World Wide Web will be under the control of people and powered by blockchain technology. Recent calls from Canada’s Conservatives have called for the creation of a national framework for the crypto industry.

Further, Pierre Poilievre, the federal Conservative leadership candidate, has said that if he were to become prime minister, he would work to make it easier for Canadians to use cryptocurrencies and for crypto companies to operate.

Crypto Ads Regulation

Recently, the Canadian Securities Administrators (CSA) released a set of guidelines targeting all advertising and marketing campaigns pursued by crypto trading platforms. This is because the regulator had observed a series of advertising banners and statements that could mislead investors.

Canadian cryptocurrency industry leaders have launched a non-profit organization named Canadian Web3 Council, aimed to push for regulation in the country. According to Global News, the organization was founded by Connor Spelliscy and Jelena Djuric.

The founders have been looking to push for regulation across the crypto and blockchain sphere in Canada amid growing interest in the sector. Additionally, there are representatives from Dapper Labs, Ledn, Ether Capital and Wealthsimple involved in the Council.

“As the industry has grown into a multi-trillion-dollar asset class, now is the time for the government to work alongside industry leaders to ensure thoughtful policy is formed,” Spelliscy and Djuric said in a joint statement. They added: “Although there are regulatory challenges when it comes to this nascent industry, the Canadian Web3 Council can work alongside regulators to help them understand and navigate this complex space.”

According to the statement, a national strategy for cryptocurrency and digital assets is the Council’s first priority.

From launching non-fungible token platforms like CryptoKitties and NBA Top Shot to founding Ethereum, Canadian entrepreneurs have played a significant role in blockchain and digital assets. With Web3 technology, the World Wide Web will be under the control of people and powered by blockchain technology. Recent calls from Canada’s Conservatives have called for the creation of a national framework for the crypto industry.

Further, Pierre Poilievre, the federal Conservative leadership candidate, has said that if he were to become prime minister, he would work to make it easier for Canadians to use cryptocurrencies and for crypto companies to operate.

Crypto Ads Regulation

Recently, the Canadian Securities Administrators (CSA) released a set of guidelines targeting all advertising and marketing campaigns pursued by crypto trading platforms. This is because the regulator had observed a series of advertising banners and statements that could mislead investors.

About the Author: Felipe Erazo
Felipe Erazo
  • 1036 Articles
  • 42 Followers
About the Author: Felipe Erazo
Felipe earned a degree in journalism at the University of Chile with the highest honour in the overall ranking, and he also holds a Bachelor of Arts in Social Communication. In addition, he has been working as a freelance writer and Forex/crypto analyst, with experience gained from several forex broker firms and crypto-related media outlets around the world. He has been involved in the world of online forex trading since 2010 and in the crypto sphere since 2015.
  • 1036 Articles
  • 42 Followers

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