Canada Pushes to Regulate Crypto Adoption, Forgoing Volatile BTC Past

The history of crypto in Canada may seem as volatile as a token with a small market cap, yet mainstream use and adoption have been on a consistent incline since 2013, when Canadians started pushing mainstream adoption.

The first thing that comes to everyone's mind when it comes to the Great White North is that the founder of Ethereum, Vitalik Buterin, grew up in Canada - but Etherum isn't all the country has provided to the crypto space.

In response, state and provincial securities regulators in the United States and Canada launched probes into potentially fraudulent crypto investment programs as part of the North American Securities Administrators Association's Operation Cryptosweep in 2018.

"I do not think that cryptocurrency holders try to laundering money in Canada because they are obligated to pay taxes. Many countries do not require holders to pay taxes from their crypto income making them more attractive to bad actors."

Flexa and Coinsquare integrate physical retail payments for Canada However, not all news surrounding Canada recently has been negative.

Current estimates show that over 7,500 businesses have signed up on the platform to offer crypto payments to their customers, indicating that business owners in Canada see a need to provide payment solutions in crypto.

Canada audits QuadrigaCX exchangeA review of Canada in cryptocurrency would not be complete without talking about QuadrigaCX, a defunct Canada-based exchange.

High-paying employment in Blockchain Consensus reportThe Blockchain Consensus report was released on Oct. 4, 2019 by the Chamber of Digital Commerce Canada, exploring the blockchain ecosystem in Canada.

Further, the report includes statistics that highlight the average annual blockchain salary in Canada sitting at more than $98,000 Canadian dollars, making blockchain careers among the highest-paying in the country.

"Private stablecoins will need to be more similar to a shield that protects purchasing power and provides security against hacking. When Central Bank's like Canada issue their own digital currencies and other countries do the same, being able to create stable interoperability between each countries' fiat onboarding will add the most value to the ecosystem."