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Wealthsimple Founder Says Canada Should ‘Plant a Flag’ in Crypto

  • Katchen’s trading platform allows users to buy digital coins
  • Crypto push could help diversify the nation’s economy, he says
Mike Katchen, chief executive officer of Wealthsimple.

Mike Katchen, chief executive officer of Wealthsimple.

Photographer: Galit Rodan/Bloomberg

Canada’s policy makers and regulators should work to make the country a leading destination for cryptocurrency and blockchain companies as part of a broader strategy to diversify its economy, Wealthsimple Chief Executive Officer and co-founder Mike Katchen said.

Blockchain technology is “wildly exciting,” and regulators should clarify the tax and legal issues surrounding cryptocurrencies, Katchen said Wednesday in a discussion with the Canadian Club Toronto. Wealthsimple is an online financial-services company partly owned by Power Corp. of Canada