Blockchain Venture welcomes Cdn gov't's 2025 budget

Executive Summary

• Blockchain Venture Capital Inc. (BVCI) publicly welcomes the Canadian federal government's 2025 budget announcement to introduce legislation establishing a national framework for fiat-backed stablecoins.
• The company highlights its historical role as a pioneer in the sector, having launched the CADT stablecoin in 2019 and maintained ongoing engagement with securities regulators across multiple provinces.
• BVCI is calling for comprehensive legislation that clarifies the treatment of stablecoins (as securities or payment instruments) and addresses broader use cases including payments, mortgages, trading, and cross-border transactions.

Key Details

• Regulatory Context: The Canadian government announced in the 2025 federal budget its intent to introduce legislation for a national framework for fiat-backed stablecoins, aiming to build a "competitive and innovative" financial system.
• Company History & Milestones:
  • July 1, 2019: Launched CADT stablecoin in Toronto.
  • November 2019: Introduced CUSD stablecoin (pegged to USD) in Nevada, USA.
  • July 2020: Issued CADT in Canada with support from Concentra Trust, becoming one of the first trust-backed stablecoins linked to the Canadian dollar.
  • 2019–2025: Collaborated with Ontario, Alberta, and B.C. securities regulators under Canadian Securities Administrators (CSA) oversight.
  • August 12, 2022: Listed on the Canadian Securities Exchange (CSE).
  • December 2023–2025: Submitted exemptive relief applications to CSA staff (Notice 21-333) to enable trading of CADT on major crypto platforms; applications are currently under review.
• Strategic Requests:
  • BVCI urges clarity on whether stablecoins will be regulated as securities or payment instruments.
  • The company advocates for legislation covering stablecoin-based payments, mortgages, trading, lending, and cross-border financial transactions.
  • Emphasis on expediting the legislative and registration process to maintain global competitiveness.
• Company Profile:
  • Ontario-incorporated, registered as a money service business with FINTRAC.
  • Offers BVC chain (proprietary blockchain/DLT platform) and BvcPay (mobile wallet for BTC, ETH, and CADT).
  • CADT is designed for payments, settlements, digital asset issuance, and ledger services.
  • Standard disclaimer included: No assurance of proceeding with CADT initiatives without necessary regulatory approvals.

Notable Quotes

• "BVCI applauds this important policy milestone... Since 2019, we've worked tirelessly to introduce compliant and transparent stablecoin innovation in Canada. With the federal framework now on the horizon, we look forward to collaborating with regulators to help make Canada a global leader in trusted digital payments and financial technology." — Richard Zhou, Founder and CEO
• "Stablecoins are not just digital cash -- they are the foundation of a new, inclusive financial infrastructure... With thoughtful legislation and co-operation among federal and provincial regulators, we can make Canadian crypto and payments great again -- positioning Canada as a global leader in digital asset innovation." — Richard Zhou