Canadian MP introduces bill aimed at encouraging growth in crypto sector
“To be a world leader, Canada needs to make sure cryptoasset experts and investors are telling us what policy they need or what policy they don’t need,” said Michelle Rempel Garner. Michelle Rempel Garner, a member of the House of Commons of Canada, has introduced a bill proposing the government set up a framework to encourage the growth of the cryptocurrency sector in the country.In the first reading of Bill C-249 in the House of Commons on Wednesday, Garner proposed having Canada’s Minister of Finance — currently Chrystia Freeland, a member of the country's Liberal Party — consult with....
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A bill has been introduced in Canada to encourage the growth of the crypto sector. “Canada should be attracting billions of dollars in investment in the fast growing crypto asset industry. Today I introduced a bill, the first of its kind in Canada, to make sure this becomes a reality,” said the parliament member who introduced the bill.
Bill to Grow Crypto Sector Launched in Canada
Canadian parliament member Michelle Rempel Garner introduced “Bill C-249” on Wednesday, which “may be cited as the Encouraging the Growth of the Cryptoasset Sector....
This is the third time Rep. Emmer has introduced the bill to the House of Representatives, but the first with a Democrat in the presidency. Minnesota Rep. Tom Emmer has reintroduced a bill aimed at preventing the IRS from imposing penalties or fees on crypto taxpayers with forked assets.In an announcement from Emmer on Monday, the congressperson from Minnesota said he had once again introduced the Safe Harbor for Taxpayers with Forked Assets bill in the United States House of Representatives. If passed in its current state, the bill would create a safe harbor for crypto holders with forked....
The two bills introduced on Feb. 2 propose allowing the state of Tennessee as well as its counties and municipalities to invest in crypto, as well as forming a committee aimed at studying crypto and blockchain. Jason Powell, a member of the Tennessee House of Representatives, has introduced a bill proposing counties, municipalities, and the state to invest in cryptocurrencies and nonfungible tokens, or NFTs. According to Tennessee House Bill 2644 introduced on Feb. 2, Powell proposed amending the current state code to add crypto, blockchain, and NFTs to the list of authorized investments....
The folks over at bitcoin exchange Vault of Satoshi this week announced that a private beta has started for their bill payment and pre-authorized debit services - available only to customers in Canada. While this is only a testing phase, it's an important move for the company, who is now joining the likes of Bylls, which was just announced this week. Users who apply to be a part of the beta are required to submit two forms of Canadian-issued identification, proof of residency, employer information, and bank account information. Vault of Satoshi has set a limit of $3,000 for bill payments.....
The planned bill comes as part of broader legislation aimed at cracking down on tax fraud, a government spokesperson said.