Canada's Alberta Sees Growth in Crypto Sector
Annie Li Feb 04, 2022 03:10
Alberta, Canada’s most oil-rich province, is seeing growth in the crypto industry to diversify its economy.
Alberta, Canada’s most oil-rich province, is seeing growth in the crypto industry to diversify its economy.
Alberta is actively looking to build the province's tech industry, including mining digital tokens, building data centres, and attracting high-tech workforces.
Doug Schweitzer, Alberta's minister of jobs, economy, and innovation said in an interview with Bloomberg on Thursday that:
"This is an area of huge disruption and we want to make sure we're there in that market."
Many cryptocurrency-related companies including blockchain training and consulting company Blockchain Guru - an open-source infrastructure as code software tool Terraform - and public-listed company Bitcoin Well - which is headquartered in Alberta's capital Edmonton has made Alberta their home base.
To help attract crypto companies, the province has been working hard to attract skilled workers. And last month, a new immigration program was announced to accelerate the entry of tech talent into Alberta.
Mike Katchen, CEO and co-founder of crypto and stock trading platform Wealthsimple, said the Canadian government should work on growing cryptocurrency and blockchain companies in Canada, as reported by Blockchain.news on January 27.
Along with the growth in the crypto sector, Canada has also been keeping an eye on security-related issues.
According to September 24, 2021, report by Blockchain.News, Canadian market regulators have issued warnings to cryptocurrency service providers who mislead investors through their gambling style advertisements.
The report added that the market regulators said a detailed guideline has been released to help all concerned stakeholders market to sell their products and services under the Canadian securities allowance.
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