Toronto – Lucas Matheson, CEO of Coinbase Canada, presented a case for the new Canada government to create a national cryptography strategy during its appearance in consensus 2025 in Toronto.
Speaking in a panel entitled, “what the new Canadian government should do to lead in cryptography,” Matheson described some key steps that he thinks will help position Canada as leader in the blockchain space.
Matheson stressed that Canada has long been a center for cryptographic innovation, citing the origins of Ethereum and the strong presence of web3 developers at Canadian universities.
However, he said that the country runs the risk of falling behind as other nations actively give cryptographic policies. “We need leadership. We need champions in the government to adopt this technology and legitimize it in the eyes of the daily Canadian,” Matheson said. He emphasized the importance of having a federal crypto leader dedicated, similar to the US cryptographic tsar.
One of his main suggestions was that Carney established a Crypto task force of the government within the first 100 days of the new administration.
This working group would develop a national cryptography strategy, which includes defining digital assets, regulating Stablecoins and allowing banks to maintain cryptography safely. Matheson also proposed to create a strategic Bitcoin reserve and integrate cryptography mining with existing data centers.
Matheson said that Stablecoins could play a key role in making digital assets less speculative, suggesting that Canada needs a stable currency called Canadian dollars to increase financial efficiency.
“One in five Canadians send money abroad. We pay between 6% and 12% to send money worldwide. And today, with cryptography, you can click different buttons on your phone and send your friends and family from 6% to 12% more money,” he said.
Metheson also pointed out that 15% of Canadians are considered sub -official in Canada, which creates “a significant opportunity to boost innovation and change”, in the country through cryptography.
‘Stand with Crypto’
To advocate even more for policy change, Matheson pointed out the “Stand with cry” initiative.
This aims to educate legislators about Blockchain’s benefits and address erroneous concepts. He pointed out that the initiative is gaining traction among industry leaders and aims to generate support among members of Parliament.
As Canada makes the transition to a new government led by Mark Carney, Matheson expressed optimism about the new mandates of the new administration with respect to innovative technology.
“They [Liberals] They have the mandate to build Canada to find economic growth and opportunities to adopt technology. And we have a government that is very motivated to think of opportunities to help our country get more economic advantage. And I think Crypt and other technologies will need to be hugged, and to do it, we need to educate them, “he said.
However, Matheson warned that Canada runs the risk of being behind in the global race to integrate cryptography into the financial system unless you take quick measures.
He compared the current challenges in Canada such as “a square plug, round hole, legal definition problem”, due to several different layers of securities regulators.
This means that Canadians are forced to seek services related to cryptography, which could cause a loss of opportunities for the country and open users to risks.
“We are at risk of not moving quick enough to adopt the types of technology and products and services in Canada, and as a regulated financial institution, it is a priority for us to ensure that we can introduce these products and services in a compatible way, so that Canadians not only use a VPN and jump and use platforms not fulfilled throughout the world.”
Read more: Lucas Matheson de Coinbase about why Canada needs a blockchain strategy
