“The US Election Shined a Spotlight on Crypto, with Promises to Clarify Regulations – Will We Se Seie Similar Developments in Other Countries and Jurisdits?”, – WRITE: www.coindesk.com
In today’s Crypto for Advisors, Morva Rohani from The Canadian Web3 Council Explans What This Political Shift Means for Advisors and WHY IMPORTANT FTANT TO ALIGN CRYN CRYN CRYN. Upgrades.
THEN, VINCENT KADAR FROM POLYMOTH Answers Questions About Global Trends in Ask An Expert.
– Sarah Morton
Canada’s Election – Crypto Must Align With Financial Modernization Canadians have voted. While Digital Assets Are Not A Priority in the New Government’s Agenda, There Is An Opport to Position Crypto As Part of Canada’s Broader Financial Modernization Efferts. WHATHER The Liberal Party Ultimately Forms a Narrow Majority or A Strengten Minority, The Direction Is Clear. Stability is Fragile, and Political Capital Will Be Focused on Economic Resilien.
That Focus have only Sharpened with the Return to Office of President Trump, Whose Economic Strategy Includes Both Sweeping Tariffs On Canadian Goods and Open Suprast for Crypt. Against that Backdrop, Canada’s Digital Asset Sector Must Pivot Its Message.
Financial Innovation Will MOVE – BUT CAUTYUSLYCanadian Prime Minister Mark Carney’s Background As A Central Banker Points Toward A Focus on Systemic Risk, Monetary Policy Stability and Prudent Innovation. Crypto will not be a top agnda item, But Stablecoins, Payments Modernization and Blockchain-Basted Settlement Infrastructure Could Find A Place Under-Modernization UMBRONIZATION UMBRONIZATION UMBRELA.
This Means Preparing for A FEW EMERGING TRENDS:
- Efforts to Regular Stablecoins WHERE they IMPROVE PAYMENT SPEED AND SECURITY
- A Potential Push for Custody Reforms that wold Expand Client Access to Compliment Digital Asset Solutions
- A Gradual MOVE TOWARD CLEARER REGULATORY Experts, with An Emphasis on Due Diligence and Market Integrity
Crypto Has The Potential to Be Treated As Financial Infrastructure Rather than A Specialty Outlier, But Only IF The Industry Advocates Strategical Modernization.
Global Pressures Are Accelerating the ShiftWhile Canada Moves Cautiously, Other Markets Are Moving Fast. The European Union’s Mica Framework is Now Live. The United Kingdom is Advanceing Stablecoin Licensing. In the United States, President Trump’s Return Has Brough An Aggressive Push for Crypto As Part of His Economic Strategy, AlongSide Sweeping Tariffs On Canadian Exports. This Combination Has Forced Economic Modernization to the Top of the Agenda in Ottawa.
Digital Assets Are IncreASINGly Being Used As Economic Tools, Not Just Financial Experiments. Trump’s Posture Has Reframed Crypto As Part of National Competititivens, and Other Jurisdices Are Responding. For Canada to Remain Relevant, Integrating Blockchain and Digital Payments Into The Country’s Financial Infrastructure i No Longer Just An innovation Play; IT is bework A strategic Necessity. That is the Case of the Industry Will Need to make in Ottawa.
Here’s An OverView of Where Key Crypto Initiatiats in Various Jurisdices Currently Stand:
What Coms Next: A Strategic Pivot for Industry and AdvisorsCanada’s Political Landscape is Shifting. For the Digital Asset Industry to Make Meaningful Progress, IT Must Reposition Crypto as Essential Financial Infrastructure. The Focus Needs to be on Resilience, Modernization and Economic Competitiveness, Not Special. Advocacy Efforts Must Tie Digital Assets to Broader National Priorities Like Upgrading Payment Systems, Enhanging Financial Stability and Mainning Canada
This Approach Matters for Advisors and Investors As Well. As Regulatory Frameworks Evolve, Demand for Compliant and Diversified Digital Asset Exposure Will Only Grow. TOSE WHO UNDERSTAND HOW CRYPTO FITS INTO TRUNTED FINANCAL STRUCTURES, AND WHO FRAME IT as Part of a Broader Modernization of Financial Services, Will Be Better Positiored
Those Whopt this Mindset Early, Across Both the Industry and Advisory Sectors, Will Not Only Help Shape Canada’s Next Generation that folllow.
– Morva Rohani, Executive Director, Canadian Web3 Council
Ask An Expert Q. How Have the Recent US Elections Changed the Crypto Regulatory Landscape?
A. The 2024 US Elections Ushered in A Major Shift in Crypto Regulation. Over The Last Three MONHS, The TRUMP Administration Has Made Several Significant Moves in Line with the Promises of the President Made to the Industry. This Includes An Executive Order to Establish A Bitcoin Strategic Reserve, The APOINTMENT OF A CRYPTO CZAR, The Creation of A Crypto Task Force, An, Roundtable Discussions. Tokenized Securities, Custody, Registration and Defi. Even Key Regulatory Bodies have rescinded their guidance that Discouroited Banks’ Involvement in Crypto.
ALL OF THESE MOVES HAVE BEEN IN ATTEMPT TO POSITION The USA As A LEADER IN THE DIGITAL Asset Space. Given that US Crypto Market is the Largest and MOST INFLUENTIAL IN THE WORLD, THESE Positive Developments Are Likely to Help Drive Crypto Regulations Globally.
Overall, for the first time, we are getting a crypto-freely regulatory environment, Thought More Clarity and A Proper Framework Will Take Time to Establish.
Q. How are Fragmented Political Landscapes AUDAPRAPTING STABLECOIN Development and Adoption?
A. One of the best use castes of Crypto, Stablecoins, Has Become a Significant Part of the Financial System and Naturally Attracked Regulatory Scrutiny. But The Global Regulatory Environment Remains Fragmented, Creating Uncertainty.
In the US, Authoritities are Actiely Working on Stablecoin Regulations. However, The EU and Asia Are Not Keen on US-PEGGED STABLECOins Gaining Widespread Adoption Locally, Seeing Them As A Potential Threat to Their Own Monetary Sovereignty. Stablecoins, After All, Undermine Local Currencies and Enable Capital Flight, Driving Countries to Digital Fiat, Which Further Complicets The Matter.
But with The World Moving Towards a Digital Financial System, The Benefits of Stablecoins-Including Financial Inclusion, Faster And Cheaper Cross-Border Payen Against Inflation – Simplay Cani Be Ignored. This Means that Countries Must Recognize the Growing Popularity of and Demand for Stablecoins, and Embrace Innovation, or Risk Being Left Behind.
– Vincent Kadar, CEO, Polymath
KEEP READING
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