Experts say government has a key role to play protecting crypto investors from bad actors, by DearOtherPeople cdnpoli (unlocked)
Finance Minister Chrystia Freeland holds a press conference on Feb. 17 to address federal implementation of the Emergencies Act in response to the ‘Freedom Convoy’ protests across Canada.“In Canada at least the government seems to be more interested in policing payments that are potentially deviant than using digital finance to encourage investment in Canadian companies through new and innovative channels,” he said.
Private and institutional investors stand to lose large amounts from recent cryptocurrency bankruptcies—the Ontario Teachers Pension Plan said it lost its entireinvestment in FTX and the Quebec pension fund Caisse de depot et placement du Quebec said in August that it had lost its entire $150-million investment in Celsius Network.
Patriquin pointed out that smaller countries such as the Bahamas and the Cayman Islands have set up more liberal regulatory systems in order to lure major crypto exchanges such as Binance and FTX, and that Canada has the opportunity to set up a regulatory framework for companies that are willing to meet its standards.
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