Policymakers should be more proactive about making Canada an attractive place for crypto entrepreneurs to do business, including by providing more regulatory certainty, Michael Katchen said at a Canadian Club Toronto event. (The Logic)

Talking point: “If we do the typical Canadian thing of, ‘Let’s just wait and see what happens everywhere else,’ we will not benefit from it,” Katchen said. At the same time, he added, regulators should move faster in ensuring that other crypto companies, especially “international players,” are in compliance with the existing rules. Wealthsimple has operated within the rules in contrast to many foreign firms, including Binance and FTX, that have been forced to place restrictions on Canadian customers amid a recent regulatory crackdown. But regulators’ attitudes are likely to vary even within Canada. In the last month, Binance has wound down its operations in Ontario and incorporated in Alberta, which has begun pitching itself as a crypto-friendly jurisdiction.