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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