The Canadian Press/Darryl Dyck
News

In bid to attract big banks to crypto, Ottawa startup calls for federal government to set digital asset custody rules

Brane Capital chair Adam Miron envisions a day in the not-too-distant future when Canada’s big banks invite clients to deposit their cryptocurrency like they would cash. “You’re going to open up your banking app on your phone and see your chequing account, your savings account, your mortgage, maybe a little trading portfolio and [then] digital assets.” 

Miron believes clearer regulation of how those digital assets are held would give financial institutions and investors alike a confidence boost in a section of the digital economy plagued by high-profile losses. Other startup executives and regulatory experts say a lack of interest, not rules, is keeping banks out of cryptocurrency. Nonetheless, Brane is calling on the federal government to follow the U.S. and Germany in introducing guidelines it hopes will help Canada earn a piece of the fast-growing cryptocurrency market.

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