Coinbase executive: Canadian regulators are more cooperative with the crypto industry than the U.S., but lawmakers are not involved enough

Odaily News Coinbase Canada regional director Lucas Matheson said at the Collision conference in Toronto that Canadian regulators are much more cooperative with the cryptocurrency industry than their U.S. counterparts, yet the countrys lawmakers lack significant political engagement. Political leaders in other countries or regions often develop long-term strategic plans to integrate digital assets into the economic system, and we are eager to work more closely with federal politicians and members of parliament to ensure that we have a strong regulatory framework in Canada, Matheson said. Despite this, Canada is an exception in terms of stablecoin regulation, and the industry has close cooperation with the government and regulators. Coinbase entered the Canadian market in August 2023 and has obtained restricted dealer and international dealer licenses. Canada is expected to implement an international crypto asset tax reporting framework in 2026. The regulation will impose new tax reporting requirements on cryptocurrency exchanges and other entities that deal in digital assets. (Cointelegraph)