An Act respecting the encouragement of the growth of the cryptoasset sector

Bill C-249 was a Conservative Private Member's Bill respecting the encouragement of the growth of the cryptoasset sector in Canada, sponsored by then-CPC MP Michelle Rempel Garner (Calgary Nose Hill). The bill called for federal-government coordination on a national crypto strategy, regulatory clarity through the Canadian Securities Administrators framework, and federal acceptance of certain Crown-acquired cryptoasset payments under the Bank of Canada Act (R.S.C. 1985, c. B-2). The proposal came during the volatile late-2021 to early-2022 crypto-asset price spike (Bitcoin reached approximately USD 68,000 in November 2021 before falling to under USD 16,000 by November 2022, the so-called Crypto Winter). Did not pass second reading. The 2024 Bank of Canada CBDC (central bank digital currency) decision shelved exploratory work pending policy review.