Canadian crypto industry leaders launch Web3 council as it pushes for regulation

TORONTO — Some of Canada's leaders in the blockchain and cryptocurrency sector are coming together to launch a non-profit association aimed at moving the needle on regulation of digital assets in this country. TORONTO — Some of Canada's leaders in the blockchain and cryptocurrency sector are coming together to launch a non-profit association aimed at moving the needle on regulation of digital assets in this country. It is called the Canadian Web3 Council and includes representatives from companies like Wealthsimple, digital collectible business Dapper Labs and Ether Capital. Web3 describes the next phase of the internet that puts the World Wide Web in the control of people and is powered by blockchain technology. The council's first priority is to advocate for a national strategy for cryptocurrency and digital assets, according to a news release. There have been recent calls for the federal government to create a national framework for the crypto industry from the Conservative party. The council also points out the role Canadian entrepreneurs have played in the blockchain and digital asset space, from founding Ethereum to launching popular non-fungible token (NFT) platforms like CryptoKitties and NBA Top Shot. This report by The Canadian Press was first published March 29, 2022. The Canadian Press