Michelle Rempel Garner, a Canadian Conservative Party member, has reportedly encouraged Justin Trudeau’s government to allow cryptocurrency to flourish. She believes, like Michael Katchen that Canada should be “attracting billions of dollars in this fast-growing sector.”
Nother Voice in Support of Crypto
Bloomberg reports that Michelle Garner, a top politician, urged Canada’s Financial Ministry to create a framework for attracting cryptocurrency investors in a recent statement. She recommended that investors be protected and barriers to entry in the space were reduced. She added that the country could lose talented people who could migrate to the United States or Europe if this happens.
Garner regrets that the cryptocurrency industry is a topic that divides her country, and not one that unites. She believes that bitcoin and altcoins still have a lot of potential and are still in the early stages. She reminded Canada that it did not approach those issues appropriately and she does not believe Canada should make the same mistake with crypto.
“We are going down the same path that we took with the oil and natural gas sector. Instead of being the focus of public policy debates, it quickly became Alberta oil-sands jobs and climate change.
Garner also praised efforts by the central bank to explore the possibility of launching its digital currency. She stated that Parliament must catch up to the Bank of Canada’s progress.
Michelle Garner, Toronto.com
Michael Katchen, the Co-Founder and CEO of Wealthsimple, suggested that local authorities and watchdogs “plant a flag and create a crypto friendly ecosystem.” He called blockchain technology “wildly exciting” while noting that the best people in tech are “flocking” to the digital asset space.
The executive touched on bitcoin and predicted that it would become a reserve currency. He did not deny that there is a lot of speculation surrounding bitcoin and he highlighted the company’s efforts to educate investors on investing responsibly.
KPMG Canada doubles down on Crypto
KPMG’s Canadian subsidiary – a large accounting firm – added Bitcoin to its corporate treasury earlier this week. The company also included carbon offsets to ensure net-zero emission.
KPMG Canada purchased the digital assets via Gemini’s execution- and custody services. This was the first time that cryptocurrency had been allocated to an entity. It has also provided tools that have helped institutional clients to offer digital asset services.
Benjie Thomas, Canadian Managing Partner at KPMG, spoke on the subject. He called crypto “a maturing asset class:”
“Investors, such as hedge funds, family offices, large insurers and pension fund managers are increasing their exposure to crypto assets.”
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