(Kitco News) – Following the successful launch of its “Stand with Crypto” (SwC) platform in the United States and the United Kingdom, Coinbase, the top crypto exchange in the U.S., has announced the program's expansion to Canada as it looks to grow the support base of cryptocurrency advocates.
To help educate voters on the stance many lawmakers have regarding crypto, the U.S.-based Stand With Crypto initiative lists the pro- and anti-crypto statements many prospective candidates for federal, state, and local offices have made. In May, the project also launched a political action committee to support candidates in the 2024 election.
“Stand with Crypto was born in the US as a movement focused on mobilizing the crypto community,” a blog post announcing the expansion said. “Stand with Crypto in Canada is all about shining a light on the pioneers building businesses onchain, driving real-world use cases, and solving society’s problems with blockchain technology.”
“We believe that Canada can be a leader internationally in the adoption and commercialization of this transformative technology, and it begins with crypto,” Coinbase said. “With an estimated 5 million crypto holders calling Canada home, now is the perfect time to rally Canadian voices and ensure they're seen and heard.”
The exchange noted that a recent survey showed “86% of Canadians agree the Canadian financial system could use an update.” They added that “The majority feel that the system is not fair for everyone (80%), is out of touch (76%) and is designed to benefit corporations (83%) and the wealthy (73%).”
Additionally, “72% think that the regulation of cryptocurrency exchanges is important,” and “Nearly a third of Canadians (29%) said they would be more inclined to buy cryptocurrency if there was more regulation in the industry.”
“The appetite for this movement in Canada is clear,” Coinbase said. “Policymakers have expressed a desire to deepen their understanding of the opportunities presented by emerging technologies like blockchain, and [the] industry needs to do a better job of explaining the social and economic value that can be unlocked through applications of cryptocurrency, blockchain and decentralized innovation.”
To help kick off the platform’s Canadian debut in style, Stand with Crypto held a launch event on Friday in Calgary on the sidelines of the Calgary Stampede.
Speakers at the event included the Honourable Dale Nally, Minister of Service Alberta and Red Tape Reduction; Lucas Matheson, CEO of Coinbase Canada; Tom Duff Gordon, Vice President of International Policy at Coinbase; Alexis Pappas, Chief Innovation Officer at GuildOne Inc.; and Samantha Robertson, Director of Global Energy Strategy, at Bitdeer.
Nearly 100 blockchain entrepreneurs, industry leaders, investors, leading academics, and media personalities attended the event, which Coinbase called “the culmination of a week-long trade mission in Alberta organized by the Canadian Blockchain Consortium.”
Delegates were also able to meet with Danielle Smith, the Premier of Alberta, and the Honourable Nathan Neudorf, Minister of Affordability and Utilities for the Government of Alberta.
Coinbase said the event’s agenda “was designed to foster collaboration between Government and industry, to ensure that collaborative governance of the digital asset ecosystem results in common-sense regulation.”
“The Calgary launch event marks a pivotal moment in the campaign’s expansion,” Coinbase said. “As SwC continues to grow, its impact on Canada’s blockchain landscape is set to be profound, fostering a grassroots movement that champions blockchain innovation and economic growth.”
Canadians are set to vote in the next federal election before October 2025. They will decide on members of the House of Commons in the country’s Parliament, and SwC is looking to promote pro-crypto legislators to help simplify the path to adoption.
“The timing of our push in Canada reflects our broader international strategy to engage with the Canadian community and policymakers proactively,” Matheson said in an interview with Cointelegraph. “Our activities will focus on organizing educational workshops and seminars for policymakers, facilitating dialogue between industry leaders and government officials, and supporting the development of research and policy papers.”
