According to Bloomberg, following the huge success of the cryptocurrency industry in last year's US election, Canadian digital asset companies have begun to apply the lessons they have learned. The next federal election in Canada will be held in October 2025, but it may be held earlier under the Canadian parliamentary system. The Liberal Party led by Canadian Prime Minister Justin Trudeau is currently forming a minority government, and the opposition party is expected to propose and support a motion of no confidence this year that will overthrow the government. The Canadian cryptocurrency industry hopes to see digital assets become a bigger focus in that election, just like in the United States.
In July, Stand With Crypto expanded to Canada, but the Canadian branch does not intend to support candidates in the upcoming elections. On the contrary, its goal is to "inspire the community of cryptocurrency advocates" and launch a grassroots movement of supporters to enable them to engage in dialogue with other Canadians and their members of parliament.
Although cryptocurrency may not be the political focus of Canada, the country has played an important role in the industry. The second largest cryptocurrency Ethereum was born in this country, and Canada is the location of the world's first Bitcoin ETF. Other issues that the Canadian cryptocurrency industry is lobbying on include allowing the use of Bitcoin in retirement savings plans and tax-free savings accounts, as well as incorporating cryptocurrency into open banking laws. So far, there have been no political parties supporting the industry in the country, but digital asset companies have been trying to position cryptocurrency as a way to improve affordability - a key focus of Canadian politics.
