Lately, when many Canadians think of the Senate — our unelected upper house of Parliament — they think of the Senate expense scandal (or possibly other scandals) which may be an issue in the general election this fall. That’s unfortunate, as today the Senate Standing Committee on Banking, Trade and Commerce released its report on Digital Currency.

The Committee offers a number of welcome, measured, and moderate proposals.

The very first recommendation exhorts the Canadian government to “create an environment that fosters innovation for digital currencies and their associated technologies” and “exercise a regulatory ‘light touch.'” That’s certainly welcome given the innovation that’s taking place in the space in Canada and the cryptocurrency businesses that are being started and acquired here.

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Bill C-290 (eliminating the Canadian Criminal Code prohibition against single-event sports betting) is still before the Canadian Senate. My last update on C-290 on Pokerati was here. I also mentioned single-event sports betting in my predictions for Canadian gaming and betting in 2013 at Casino Enterprise Management.

The Senate is at the final stage of debating this bill. The final stage, however, may take some time. I have been told that the measure will not come up for a vote without the votes to pass it, but both sides seem confident that they’ll win out.

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