Mama Captain’s view on the Canadian Securities Commission to Support Cryptocurrencies: We reached out to Mama Captain, one of the exciting new payment platform providers, to get their thoughts on this topic.
The growing popularity of cryptocurrency is evident in its acceptance as more governments and agencies show interest in its prospects. The Ontario Securities Commission (OSC), arguably the largest monetary regulations in Canada, has recently backed this claim up by throwing its weight behind cryptocurrency ICOs and other benefits. The agency was set up to render assistance and consultation to help companies launching cryptocurrency to do so within the premises of the law. This will give rise to a community of regulated cryptocurrency, which can be useful for the economy.
Why Canadian Government Is Embracing Cryptocurrency
The Canadian government has also jumped on the cryptocurrency bandwagon. They are interested in the positive possibilities it holds for the future of finance. In only a few years, cryptocurrency has achieved what many modern technologies can only prospect about in the finance industry. It brings a secure system that guarantees the safety of funds to the table while making financial transactions less stressful. All these features have been welcomed with open arms by people who can’t wait to shut down the banks and put their economic future in their own hands. The Canadian government has realized these potentials and apparently have no intentions of taking a back-seat position when cryptocurrency totally takes over.
Other Countries Are Doing It
You’ll bet Canada is not the only country with eyes for a favorable cryptocurrency future. Recently, rumors have it that the Russian government is starting her own national cryptocurrency, the crypto ruby, which will be regulated by the states. Kazakhstan and a bunch of other countries have followed suit. It would be no surprise if more nations made similar decisions in the following months.
The Future of Monetary Services
A popular longtail keyword associated with cryptocurrency is “cryptocurrency is the future of monetary services”, and rightly so. Apart from the features that make it more enticing than regular banks and credit cards, it is admirably open and transparent. Cryptocurrency also steal the heart of the people by being“people friendly”, it provides a reliable means of saving funds as anti-inflationary savings. Just how you want your retirement funds saved. One more awesome stuff about cryptocurrency? It appreciates rapidly in value, which makes it the perfect way to save money and reap the benefits in increased sums.
What Regulation Means
Canadian securities want to regulate cryptocurrency to make it more stable and acceptable. The idea sits well with most cryptocurrency companies, especially those offering ICO and mutual funds. Proper regulation will make it possible for companies to abide by the monetary rules that guide finances in Canada. When all the chinks in the armor have been smoothened out, stakeholders will be able to take advantage of alternative options as project fundraisers.The Canadian government is following words up with action, they have constituted a dedicated team to provide support to qualified fintech companies. The commission would be providing eligible companies with regulatory requirements to make cryptocurrency operations more successful and attractive.
The world may be on its way to a bright future with more nations embracing cryptocurrency.