Canada has set the pace as the first government to ever approve an exclusive bitcoin mutual fund. This builds upon its reputation as a friendly environment for emerging technologies.
The atmosphere in Canada seems to be freer and more conducive to innovation in this field, based on the numerous developments that the industry has experienced even prior to this time. This is in comparison to its prominent neighbour, the United States, whose Securities and Exchange Commission (SEC) upholds strict measures while trying to figure out appropriate regulatory systems for the blockchain and cryptocurrency ecosystem.
In an exclusive interview with CCN, Sean Clark, CEO of First Block Capital Inc.— the operator of FBC Bitcoin Trust, the first bitcoin mutual fund to trade in Canada — discussed the underlying factors that make Canada a country that is friendly to new technologies such as cryptocurrency. According to Clark, unrelenting education, political will, and open-mindedness, among other factors make the North American nation an ideal hub for technological innovation.
He told CCN:
“I think in general, the Canadian regulatory bodies understand the potential benefits of blockchain and cryptocurrency, and traditionally Canadian regulators have been open to technological innovation. That is different from what you get in places like the US.”