Cryptocurrency exchange Coinbase’s project advocating digital asset regulation will expand to Canada after launching initiatives in the United States and the United Kingdom.
In an announcement shared with Cointelegraph, a Coinbase spokesperson said the exchange would launch its Stand With Crypto Canada campaign on July 12 to educate Canadians about crypto and blockchain. The spokesperson hinted that Coinbase would use the initiative to “deepen [policymakers’] understanding of the opportunities presented by emerging technologies like blockchain.”
The US Stand With Crypto initiative lists the pro- and anti-crypto statements many prospective candidates for federal, state and local offices have made. The project also launched a political action committee in May to support candidates in the 2024 election.
Stand With Crypto Canada hinted at advocating for crypto regulation and updating the country’s financial system, as residents had an “appetite” for change. Canada will hold its next federal election before October 2025, in which voters will decide on members of the House of Commons in the country’s Parliament.
“The timing of our push in Canada reflects our broader international strategy to engage with the Canadian community and policymakers proactively,” Coinbase Canada CEO Lucas Matheson told Cointelegraph. “Our activities will focus on organizing educational workshops and seminars for policymakers, facilitating dialogue between industry leaders and government officials, and supporting the development of research and policy papers.”
Related: Canadian crypto adoption struggles as cash remains king
In the US, Stand With Crypto has focused much of its recent efforts on encouraging users to support lawmakers voting to overturn President Joe Biden’s veto of a resolution rescinding the Securities and Exchange Commission’s Staff Accounting Bulletin 121. The group also highlighted lawmakers who voted in favor of the Financial Innovation and Technology for the 21st Century (FIT21) Act, rating them as pro- or anti-crypto.