🚀 Canada's Crypto Industry Eyes Greater Political Influence
#Canada #CryptoIndustry #PoliticalInfluence #Cryptocurrency #DigitalAssets #StandWithCrypto #Ethereum #BitcoinETF #GrassrootsMovement #OpenBanking #RetirementSavings #TaxFreeSavings #Affordability #ETH #BTC
According to PANews, following the success of the cryptocurrency industry in the last U.S. elections, Canadian digital asset companies are applying their learned strategies. Although the next Canadian federal election is scheduled for October 2025, it could occur earlier due to the parliamentary system. Prime Minister Justin Trudeau's Liberal Party currently leads a minority government, and the opposition is expected to propose a no-confidence motion this year to challenge the government. The Canadian crypto industry aims to make digital assets a significant focus in the upcoming elections, similar to the U.S.
In July, the Stand With Crypto initiative expanded to Canada, but the Canadian branch does not plan to endorse candidates in the forthcoming elections. Instead, its goal is to "inspire the crypto advocate community" and launch a grassroots movement to facilitate dialogue between supporters, other Canadians, and their parliamentary representatives.
While cryptocurrency may not be a central political issue in Canada, the country plays a significant role in the industry. Ethereum, the second-largest cryptocurrency, originated in Canada, which is also home to the world's first Bitcoin ETF. Other lobbying efforts by the Canadian crypto industry include advocating for the use of Bitcoin in retirement savings plans and tax-free savings accounts, as well as incorporating crypto into open banking laws. So far, no political party in Canada has endorsed the industry, but digital asset companies are attempting to position crypto as a means to enhance affordability, a key focus in Canadian politics.#Canada #CryptoIndustry #PoliticalInfluence #Cryptocurrency #DigitalAssets #StandWithCrypto #Ethereum #BitcoinETF #GrassrootsMovement #OpenBanking #RetirementSavings #TaxFreeSavings #Affordability #ETH #BTC
🚀 Canada's Crypto Industry Seeks Greater Political Engagement
#Canada #CryptoIndustry #PoliticalEngagement #DigitalAssets #StandWithCrypto #GrassrootsMovement #Ethereum #Bitcoin #Lobbying #OpenBanking #PoliticalDialogue #AffordableCrypto #ETH #BTC
According to Odaily, following the significant success of the cryptocurrency industry in the last U.S. election, Canadian digital asset companies are now applying the lessons learned. The Canadian crypto sector aims to elevate the prominence of digital assets in elections, similar to the U.S. In July, the 'Stand With Crypto' initiative expanded to Canada, but the Canadian branch does not plan to endorse candidates in upcoming elections. Instead, its goal is to 'inspire the community of crypto advocates' and launch a grassroots movement to facilitate dialogue between supporters, other Canadians, and their parliamentary members.
While cryptocurrency may not be a central political issue in Canada, the country plays a significant role in the industry. Ethereum, the second-largest cryptocurrency, originated in Canada, which is also home to the world's first Bitcoin ETF. Other lobbying efforts by the Canadian crypto industry include advocating for the inclusion of Bitcoin in retirement savings plans and tax-free savings accounts, as well as integrating crypto into open banking laws. So far, no political party in Canada has endorsed the industry, but digital asset companies are attempting to position crypto as a means to enhance affordability, a key focus in Canadian politics.#Canada #CryptoIndustry #PoliticalEngagement #DigitalAssets #StandWithCrypto #GrassrootsMovement #Ethereum #Bitcoin #Lobbying #OpenBanking #PoliticalDialogue #AffordableCrypto #ETH #BTC
🚀 U.S. Senators Push for Swift Open Banking Rule Implementation to Safeguard Crypto Access
#OpenBanking #Crypto #CFPB #DigitalAssets #FinancialInclusion #APIs #Fintech #BankingInnovation #FinancialData #USSenate
Key TakeawaysSenator Cynthia Lummis urged the Consumer Financial Protection Bureau (CFPB) to accelerate the rollout of open banking rules to ensure fair access to digital asset platforms.Lummis said large banks have restricted financial access to crypto companies and individuals with differing views.The Open Banking Framework, finalized in 2024, seeks to enable secure financial data sharing via APIs and strengthen crypto integration across U.S. financial systems.Industry groups also called on regulators to affirm that Americans—not banks—own their financial data.Senators Urge Action to Protect Crypto AccessAccording to ChainCatcher, U.S. Senator Cynthia Lummis has written to the acting director of the CFPB, advocating for the swift implementation of the Open Banking Framework.Lummis warned that large financial institutions continue to restrict access to financial services for certain industries and individuals — particularly those in the digital asset sector. She emphasized that opponents of crypto innovation must not be allowed to limit financial freedom or competition.“The ability to connect traditional bank accounts with crypto exchanges is vital for financial innovation,” she stated, urging the CFPB to ensure open banking principles are enacted without further delay.Open Banking Framework Seen as Key to Crypto IntegrationOriginally proposed in 2022 and finalized in 2024, the Open Banking Framework allows financial data to be securely shared through APIs, improving transparency, competition, and interoperability between banks and fintech or crypto platforms.Crypto industry organizations have also sent letters to the CFPB, stressing that individuals should control their own financial data, not major banks. Advocates argue that faster adoption of open banking will promote financial inclusivity and reduce discrimination against emerging industries like crypto.#OpenBanking #Crypto #CFPB #DigitalAssets #FinancialInclusion #APIs #Fintech #BankingInnovation #FinancialData #USSenate
🚀 ABA Advocates for Stablecoin Yield Restrictions and Open Banking Data Control
#ABA #Stablecoin #YieldRestrictions #OpenBanking #DataControl #CryptocurrencyRegulation #FinancialStability #DigitalDollar #BankingInterests #USLawmakers
The American Bankers Association (ABA) has announced its policy priorities, emphasizing the need to restrict yield generation on stablecoins and regulate open banking data sharing. According to NS3.AI, these initiatives are part of a broader effort by U.S. lawmakers to establish a regulatory framework for the cryptocurrency market. The ABA's position highlights the importance of cautious oversight of digital dollar products to safeguard traditional banking interests and ensure financial stability.#ABA #Stablecoin #YieldRestrictions #OpenBanking #DataControl #CryptocurrencyRegulation #FinancialStability #DigitalDollar #BankingInterests #USLawmakers
🚀 New Zealand's Stacked Launches Self-Custodial Bitcoin and Lightning Wallet
#NewZealand #Bitcoin #LightningWallet #SelfCustodial #Crypto #Blockchain #Fintech #NS3AI #OpenBanking #FiatCurrency #BTC
Stacked, a New Zealand-based company previously known as Lightning Pay, has introduced a new self-custodial Bitcoin and Lightning wallet. According to NS3.AI, the app allows users to manually or automatically purchase Bitcoin and facilitates bill or rent payments. Stacked ensures recipients receive fiat currency through open banking systems.#NewZealand #Bitcoin #LightningWallet #SelfCustodial #Crypto #Blockchain #Fintech #NS3AI #OpenBanking #FiatCurrency #BTC