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Canadian House of Commons member, Michelle Rempel thinks that to be a leading country, Canada needs to sort out new policies regarding the cryptocurrency space.

Just recently, a representative of the Canadian House of Commons, Michelle Rempel Garner has presented a new and unique bill that urges the government to promote the cryptocurrency space and its development in the region of Canada, asking to review policies and develop new frameworks for crypto professionals and investors in the region.

The Proposed Bill

Michelle Garner presented the bill in front of the Canadian Ministry of Finance, Chrystia Freeland, proposing to develop contacts with cryptocurrency experts in the industry in order to develop new regulation frameworks that would help the country to conjure up unique and innovative projects and ideas regarding cryptocurrencies. The bill was given the title of “Encouraging the Growth of Crypto asset Sector Act” aimed at urging the finance minister to look deep into the crypto space and come up with a new legislation within a time span of around three years.

Included in the bill were multiple statements highlighting the importance of operating cryptocurrencies in the region, mentioning that cryptocurrencies would bring a ton of economic advantages in the Canadian region. Another statement in the bill mentioned that a new framework must be developed that would allow easier access for new investors into the cryptocurrency sector, while also protecting the ones who are already engaged in it and reducing any sort of load in terms of administration.

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Making Crypto Easy

In addition to that Michelle Rempel also said that for Canada to be a leading country, it needs to ensure that crypto professionals and investors are aware of relevant policies regarding the trade. Rempel also said that this new bill helps build a “mechanism” that would promote easier interactions of crypto professionals and investors, promoting the development of a framework that would help the crypto space ascend to new levels.

About Michelle Rempel

As for the MP’s background, Michelle Garner has a Degree in Economics and has been a part of the government for almost eleven years of time. Back in 2021, she asked crypto experts and investors about how the government of Canada can assist to develop the crypto sector that would potentially bring billions of dollars’ worth in investments into the country.

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Nathan Ferguson

By Nathan Ferguson

Nathan Ferguson is a talented crypto analyst and writer at Herald Sheets, dedicated to delivering comprehensive news and insights on the ever-evolving digital currency landscape. With a strong background in finance and technology, Nathan's expertise shines through in his well-researched articles and thought-provoking analysis. He holds a degree in Economics from the University of Chicago, and his passion for cryptocurrency drives him to stay up-to-date with the latest industry trends and developments.