PANews reported on January 2 that according to Bloomberg, following the huge success of the cryptocurrency industry in the US election last year, digital asset companies in Canada have begun to apply what they have learned. The next Canadian federal election will be held in October 2025, but it may be held earlier under the Canadian parliamentary system. The Liberal Party led by Canadian Prime Minister Justin Trudeau currently forms a minority government, and the opposition is expected to propose and support a no-confidence motion this year that will overthrow the government. Canada's crypto industry hopes to see digital assets become a bigger focus in that election, just like in the United States.
In July, Stand With Crypto expanded to Canada, but the Canadian branch does not intend to endorse candidates in the upcoming election. Instead, it aims to “inspire the community of cryptocurrency advocates” and create a grassroots movement of supporters who can engage in dialogue with other Canadians and their members of parliament.
While cryptocurrency may not be a political focus in Canada, the country has played a major role in the industry. Ethereum, the second-largest cryptocurrency, was born in the country, and Canada is home to the world's first Bitcoin ETF. Some other issues that the Canadian crypto industry lobbies on include allowing the use of Bitcoin in retirement savings plans and tax-free savings accounts, and including crypto in open banking laws. So far, no political party in the country has supported the industry, but digital asset companies have tried to position crypto as a way to improve affordability - a focus of Canadian politics.
