With insights from a report founded by the standing committee in Industry and Technology (INDU), Canadian lawmakers from the House of Commons will support blockchain technology and cryptocurrencies, stated Cointelegraph.
Sources revealed that the report which includes 16 separate proposals that mention the advantages and potential of blockchain technology in various sectors. It is expected that due to the result of the INDU’s deliberations, the committee considered the rules made by the House of Commons and the government, Cointelegraph added.
As reported by Cointelegraph, the report recommends the Canadian government should recognise blockchain as an emerging industry and also prioritise the protection of the right to self-custody and promote safe and reliable access to digital assets for its users.
Furthermore, to bring blockchain technology into the mainstream, the committee will encourage the government to find ways to promote the adoption of blockchain technology in supply chains, Cointelegraph concluded.
(With insights from Cointelegraph)