Tanim Rasul, Chief Operating Officer at NDAX, criticized Canada for labeling stablecoins as securities. He pointed out that worldwide regulations treat stablecoins as payment instruments rather than securities, which he believes reflects a misjudgment.
Rasul suggested that Canada could benefit from adopting the MiCA regulatory framework from Europe, which better aligns with the payment instrument perspective on stablecoins.
Despite strict regulations, Canada’s crypto industry earned 224 million USD in 2024 and is projected to grow at a 18.6% CAGR until 2030, reaching an estimated 617.5 million USD annual revenue.
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