Crypto industry pushing Canada to follow U.S. lead in embracing stablecoins
“We need to drive a sense of urgency in our government to take crypto seriously, and to embrace this technology, to integrate it into our traditional financial system,” he said in an interview.
A key focus in that push is to bring more legitimacy to stablecoins, a type of crypto designed to keep a steady value by pegging it to a currency, often the U.S. dollar, and holding reserves to back it up.
The idea is that by avoiding the volatility that crypto is often known for, stablecoins can work better as a form of internet-based currency. They offer the potential for faster and cheaper money transfers, especially across borders, though come with their own risks.
One of the biggest concerns so far is that…
