Coinbase Canada CEO Urges Swift Crypto Integration Ahead of 2025 Election

Lucas Matheson, CEO of Coinbase Canada, is actively positioning the cryptocurrency giant for influence in the Canadian market, which he believes is ripe for blockchain innovation. Matheson, a Canadian entrepreneur with a background in traditional finance and tech startups, joined Coinbase after nearly six years at Shopify. He urges the Canadian government to swiftly integrate crypto into the economy, highlighting the unique characteristics of the Canadian market and his vision for the country's crypto future.

Matheson's career journey from traditional finance to Shopify and then to crypto reflects his evolving conviction in the transformative potential of digital assets. He emphasizes that his experience at Shopify, where he helped build the company's business and operational functions, has equipped him with the skills to lead Coinbase's team in Canada. Coinbase has been operating in Canada for nearly four years and has achieved significant regulatory milestones, including becoming the first international exchange to be registered as a restricted dealer under the Canadian Securities Administrators (CSA).

Matheson notes that Canada is a crypto-literate country, ranking third in global awareness of cryptocurrencies. This awareness translates into strong adoption rates, with surveys suggesting that upwards of 30% of Canadians will own digital assets by the end of the year. The country's early introduction of crypto-related ETFs further underscores its broad awareness and acceptance of digital assets. Coinbase's user base in Canada is diverse, including young students, immigrants, and institutional investors who are exploring the crypto economy for long-term diversification and wealth preservation.

As Canada approaches a pivotal election on April 28, 2025, Matheson proposes several policy changes for the next government. These include launching a government task force to create a national crypto strategy, considering a Bitcoin strategic reserve, regulating stablecoins federally, introducing a market structure bill to define crypto assets clearly, and making it easier for banks to support crypto trading platforms. Matheson also highlights the 'Stand with Crypto' advocacy initiative, which aims to organize the industry to influence policy in Canada. This initiative, along with industry associations like the Canadian Blockchain Consortium and the Canadian Web3 Council, seeks to drive regulatory clarity and promote the adoption of crypto technology.

Matheson views decentralized finance (DeFi) as a significant part of the financial economy, emphasizing that centralized exchanges like Coinbase provide valuable tools for compliant on-ramping and off-ramping from the digital economy. He believes that Canada has the opportunity to become a global leader in crypto by embracing this technology and integrating it into the economy. Matheson's advocacy is driven by a patriotic element, aiming to help Canada rebuild its economy and grow through the adoption of blockchain technology.