PANews January 2 news, according to Bloomberg, following the tremendous success of the cryptocurrency industry in last year's U.S. elections, digital asset companies in Canada have begun to apply the lessons they learned. The next Canadian federal election will be held in October 2025, but it may occur earlier under Canada's parliamentary system. The Liberal Party, led by Prime Minister Justin Trudeau, currently forms a minority government, and the opposition is expected to propose and support a no-confidence motion that will overthrow the government this year. The Canadian crypto industry hopes to see digital assets become a larger focus in that election, just as they did in the U.S.
In July, Stand With Crypto expanded to Canada, but the Canadian branch does not intend to support candidates in the upcoming election. Instead, its goal is to 'inspire the cryptocurrency advocacy community' and launch a grassroots movement for supporters to engage with other Canadians and their parliamentary members.
Although cryptocurrency may not be the political focus in Canada, the country has played a significant role in the industry. The second largest cryptocurrency, Ethereum, was born in this country, and Canada is home to the world's first Bitcoin ETF. Other issues the Canadian crypto industry lobbies for include allowing the use of Bitcoin in retirement savings plans and tax-free savings accounts, as well as incorporating crypto into open banking legislation. So far, no political party in Canada has supported the industry, but digital asset companies have been trying to position crypto as a way to improve affordability—an essential focus in Canadian politics.
