Chapter 29Canada
Canada has emerged as a leading crypto nation based on its innovation, low energy costs, high internet speed, and favorable regulatory regime.
Blockchain Adoption: While Canada ranks third in the world, behind the United States and the UK, when it comes to embracing blockchain technology, Ethereum blockchain technology adoption around the world, with a wide variety of applications in finance, government, legal, health, education, space, national and multinational cryptocurrencies, energy, initial coin offerings, and so forth is unparalleled.
A study conducted by Cornell University shows that “the Ethereum nodes are both in the latency space, and also geographically, more distributed around the world, as opposed to Bitcoin nodes, which tend to be located in data centers,” explained Emin Gün Sirer, Cornell professor and computer scientist.1
Crypto Adoption: At the end of 2021, 3.20% of the population owned cryptocurrencies.2 In 2018 the British Columbia Securities Commission approved Canada's first registered cryptocurrency investment fund, acknowledging that it views cryptocurrency investments as a new and novel way to invest. This ruling allowed pension, investment, and venture capital funds, including the Ontario Municipal Employees Retirement System's Ethereum Capital, to invest in cryptocurrencies and tokens. Amid extreme market volatility, Canada's first blockchain exchange‐traded fund (ETF) began trading on the Toronto Stock Exchange in 2018.
In 2021, ...
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