Poutine

Crypto regulations are what cheese curds and gravy are to poutine 🇨🇦 So let's dig in.

[Poutine @poutine_crypto]

2022 will be a big year for crypto regulations.

Europe, US, Canada, Australia, the UK and many other countries are all cooking something.

[Poutine @poutine_crypto]

🍁🍁Brilliant🥳🥳

However, the Stablecoin Act does not apply to CADD since they are a provincial trust company. So regulatory approval may be from Provincial securities regulators. And an exemption, like Coinbase's, to offer yield since yield is not allowed 🤔

[Wealthsimple @Wealthsimple]

Meet CADD, launching soon, pending regulator approval, a stablecoin backed by the loonie 🍁. Stablecoins offer utility, liquidity, and if you hold CADD with us you’ll get 3.25% in rewards.

[Wealthsimple @Wealthsimple]

Meet CADD, launching soon, pending regulator approval, a stablecoin backed by the loonie 🍁. Stablecoins offer utility, liquidity, and if you hold CADD with us you’ll get 3.25% in rewards.

[Sean Silcoff @SeanSilcoff]

Canada’s proposed stablecoin rules bring clarity, yield restrictions
https://t.co/2O2Cjsvxym

[Poutine @poutine_crypto]

9/ 🤔The key challenge remains how the federal framework will work with provincial security rules, such as those by the CSA. There could be a lot of overlap and inconsistencies and no matter how competitive the framework is, regulatory overlap could kill all the good work. TBD.

[Poutine @poutine_crypto]

🚨There's a lot of bad takes on Canada's proposed stablecoin regulations, now open for a 60-day consultation.

Good thing I did the homework for you. Let's go. 🚀

1/

[Poutine @poutine_crypto]

8/ 🎯Overall, a competitive approach to stablecoin regulations with similarities with the U.S and Europe as well as some key technical differences.

Canada's approach to rewards could offer a more competitive advantage in supporting stablecoin adoption and use.

[Poutine @poutine_crypto]

@0xshashim It is not stricter than the OCC. It's actually more progressive. Canada allows for rewards on transaction and the regulations only applies to issers. So a crypto trading platform can offer yield for holding as long as the revenue is not from the issuer. The OCC does not do that.

[Poutine @poutine_crypto]

@scottmelker you got it mixed up. The US does not allow for rewards. Canada does. Canada also prohibits yield if the issuer is involved, such as Circle and Coinbase sharing income. But if Coinbase offers yield, even for holding, and that income does not come from the issuer, it's allowed.

[Poutine @poutine_crypto]

@YaaraSaks No they don’t!!! Look at Vancouver. Close consumption sites. Let’s start there.

[Poutine @poutine_crypto]

@AndyFillmoreHFX What did P.E Trudeau say of backbenchers? Mr. Nobodies. That’s exactly true. Guy was an MP for a number of years for the government in power and had no influence in shaping policy whatsoever. See you later! ✌️

[Poutine @poutine_crypto]

@Bitboy_Crypto @IOHK_Charles @consensus2022 Fun fact: they’re both 35

[The Hill @thehill]

.@SecYellen on inflation being transitory: "I was wrong then about the path that inflation would take. As I mentioned, there have been unanticipated and large shocks to the economy [...] that I, at the time, didn't fully understand." https://t.co/AlrXn4kT0r

[Poutine @poutine_crypto]

@MacroAlf That + what if the labour market becomes tighter.

[Poutine @poutine_crypto]

@BNNBloomberg That’s right. We shouldn’t critique our independent institutions and push them to become better even when they got their mandate wrong.