Canada’s Parliament Discuss Bill Supporting Bitcoin

In Canada, Bitcoin (CRYPTO:BTC) is having a good week. A crypto measure proposed to Parliament last week will be debated in the coming days, and it could encourage Bitcoin investment.

The bill invites the government to use the expertise of crypto specialists to promote cryptocurrency adoption in Canada. Bill C-249 will be the first of its type in Canada if it becomes law.

While the Canadian government has established numerous cryptocurrency legislation, it has done nothing to promote the technology’s development.

The first step in that direction is C-249. If passed, this law could assist Canadian crypto firms in receiving government backing. In this essay, I’ll look at the bill, its provisions, and whether it has a chance of passing.

It was introduced by Michelle Garner and has many provisions. Building a framework for supporting crypto asset development, eliminating barriers to entrance into the crypto sector, working with known industry experts on how to expand the crypto sector, and accepting public recommendations are just a few of them.