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Coinbase Canada Director Urges Greater Political Engagement on Crypto Regulation

Jun 18, 2024

Coinbase Canada Director Urges Greater Political Engagement on Crypto Regulation
Coinbase Canada Director Urges Greater Political Engagement on Crypto Regulation
Coinbase Canada Director Urges Greater Political Engagement on Crypto Regulation

Lucas Matheson, the Canada director for Coinbase, highlighted the challenges of engaging Canadian lawmakers on crypto regulation, contrasting their relative lack of political involvement with a more collaborative stance from regulators compared to the United States. Speaking at the Collision conference in Toronto, Matheson noted that while Canadian regulators have shown cooperation with the crypto industry, there is a perceived gap in proactive engagement from federal politicians. He emphasised the industry's efforts in advocating for stablecoin regulation but acknowledged the departure of exchanges like Binance and Bybit due to regulatory concerns. Coinbase, which entered Canada in August 2023, recently obtained a restricted dealer licence and an international dealer licence, positioning itself amidst Canada's evolving regulatory landscape, including upcoming Crypto-Asset Reporting Framework requirements slated for implementation by 2026.