According to ChainCatcher, following the significant success of the cryptocurrency industry in last year's U.S. elections, Canadian digital asset companies have begun to apply the lessons they learned.
Reportedly, Canada's crypto industry hopes to see digital assets become a bigger focus in that election, just like 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 to initiate a grassroots movement for supporters to engage with other Canadians and their parliamentary members.
Although cryptocurrency may not be a political focal point in Canada, the country has played an important role in the industry. The second-largest cryptocurrency, Ethereum, was born in Canada, and it is home to the world's first Bitcoin ETF. Other issues that Canada's 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, the country has no political parties supporting the industry, but digital asset companies have been trying to position crypto as a way to enhance affordability—which is a key focus in Canadian politics.
