moved for leave to introduce Bill C-249, An Act respecting the encouragement of the growth of the cryptoasset sector.
Mr. Speaker, right now, Canada should be attracting billions of dollars of investment in the fast-growing cryptoasset industry. Right now, we are seeing government officials discuss and set policy related to cryptoassets. At the same time, many officials and lawmakers are not deeply familiar with what cryptoassets are, how they function or their big potential for economic growth.
To be a world leader, Canada needs to ensure cryptoasset experts and investors are telling us what policy they need or what policy they do not need. The bill would require the Minister of Finance to formally ensure their voices help lead policy development. It would also require the minister to develop a framework using their expertise that would ensure Canada attracts investments and talent related to cryptoassets while protecting those who work with them.
The bill would create a mechanism to formally engage the expertise of cryptoasset innovators and investors in policy development and create a framework for growth.
This effort is the first of its kind in Canada and I am pleased to introduce it today. I thank everybody who has been involved in it, including the drafters, and I look forward to working across party lines in this innovative area of policy to make this effort happen.
(Motions deemed adopted, bill read the first time and printed)