If you're looking for strong evidence that crypto is entering the mainstream, here it is:

The cryptocurrency and banking industries are locked in a lobbying battle over digital tokens that yield annual payouts, a fight that threatens to derail legislation intended to bring crypto into mainstream finance.

The two sides are clashing about what crypto firms call rewards, or annual payments to investors based on a percentage of their total holdings. They are commonly used for stablecoins, popular tokens typically pegged to the U.S. dollar and used for trading, overseas payments and money transfers.

To banks, rewards on stablecoins from companies such as Coinbase Global that pay out 3.5% resemble high-yielding deposits—but without the regulations they face for holding customers’ cash. Bank-industry groups have flooded lawmakers with letters and phone calls arguing the rewards would decimate Main Street lenders. The national average interest rate for a standard interest-bearing checking account is below 0.1%.

Whenever incumbents start panicking, you know change is happening. It happened with Uber fairly recently, and now it's happening with crypto. This change involves, among many other things, the tokenization of real-world assets and the integration of crypto within the global financial system. But clearly, it's not going to be a simple transition.

If you are a Canadian who believes that Canada should be doing more to position itself as a global leader in blockchain (and that it needs effective stablecoin regulations), I would encourage you to check out Stand with Crypto, a non-profit advocacy group primarily founded and backed by Coinbase.

If you're looking for strong evidence that crypto is entering the mainstream, here it is:

The cryptocurrency and banking industries are locked in a lobbying battle over digital tokens that yield annual payouts, a fight that threatens to derail legislation intended to bring crypto into mainstream finance.

The two sides are clashing about what crypto firms call rewards, or annual payments to investors based on a percentage of their total holdings. They are commonly used for stablecoins, popular tokens typically pegged to the U.S. dollar and used for trading, overseas payments and money transfers.

To banks, rewards on stablecoins from companies such as Coinbase Global that pay out 3.5% resemble high-yielding deposits—but without the regulations they face for holding customers’ cash. Bank-industry groups have flooded lawmakers with letters and phone calls arguing the rewards would decimate Main Street lenders. The national average interest rate for a standard interest-bearing checking account is below 0.1%.

Whenever incumbents start panicking, you know change is happening. It happened with Uber fairly recently, and now it's happening with crypto. This change involves, among many other things, the tokenization of real-world assets and the integration of crypto within the global financial system. But clearly, it's not going to be a simple transition.

If you are a Canadian who believes that Canada should be doing more to position itself as a global leader in blockchain (and that it needs effective stablecoin regulations), I would encourage you to check out Stand with Crypto, a non-profit advocacy group primarily founded and backed by Coinbase.