The Canadian government is actively promoting Bitcoin legislation and may become an early adopter of cryptocurrency

Canada’s recent moves suggest that the government is well positioned to become an early supporter of Bitcoin’s mainstream adoption.

Last week, a well-attended Bitcoin meetup was held in Toronto. Jason Cassidy, president of Crypto Consultant and Bitcoin ambassador for Canada and the Ontario Securities Commission (OSC), attended the meetup. The event heralds the OSC’s efforts to promote cryptocurrency legislation in Canada.

He said:

Canada’s understanding of Bitcoin and blockchain has reached a turning point.

Everyone participates

Cassidy explained that the growing interest in the world’s first truly decentralized digital currency appears to be coming not just from enthusiasts and technology pioneers. The Ontario government is actively involved in shaping the legal framework for Bitcoin and digital currencies. He believes this will become a trend in the coming years as cryptocurrency becomes more popular.

He sees the phenomenon as a groundbreaking step in the development of the technology because it could establish a close connection between governments at all levels and cryptocurrencies.

Our task now is to enable further development of the ecosystem, and for this we must work with relevant organizations to establish a legal framework that demonstrates the significance of cryptocurrency to all Canadians.

Exciting progress

Cassidy did not hide his excitement about the progress of Bitcoin in Canada. He said that since he entered the cryptocurrency field in 2012, such progress is very exciting.

I look forward to building close ties with all levels of government across this great country to ensure the creation of a sound digital currency architecture. You may hear my name more often in the future as I work to maintain Canada's image both domestically and on the international stage.