Alberta
Alberta bill proposes regulatory ‘sandbox’ to help financial-tech companies grow
By Dean Bennett in Edmonton, Alberta, Canada
Alberta is proposing rules that would make it easier for entrepreneurs to test products in the emerging field of cryptocurrencies and online banking.
Finance Minister Travis Toews says a bill before the legislature calls for setting up what is known as a regulatory “sandbox.”
Companies would be allowed to temporarily break or ignore select financial rules and regulations under close government supervision to test new programs.
Companies would also be able to get access to Albertans’ private information, but only within strict parameters and only with that person’s permission.
Toews says the “sandbox” is being used in the United States, Australia and the United Kingdom to help create tech jobs and to keep those regions on the cutting edge of financial technology.
If the bill passes, companies could look at innovations in everything from cryptocurrencies to financial apps, security protections and real-time, multi-user financial accounting.
The government hopes to begin taking applications on July 1.
“This will be a strong incentive for fintech companies to move to Alberta and create jobs,” Toews said Wednesday before introducing the bill in the legislature.
“In turn, it will further help diversify our economy and add to our growing reputation as a hub for world-class financial services.”
The government says the legislation would make Alberta the first such “sandbox” jurisdiction in Canada.
Companies would have to have some physical presence in the province, such as an office or senior staff.
They would be offered certificates granting them permission to perform tests or functions normally declared out of bounds under the Loan and Trust Corporations Act, the Credit Union Act and other related rules governing finance.
The companies would have their names, details and programs on a public website.
The government would be free to change the rules to adjust to changing circumstances during testing.
Alberta’s information and privacy commissioner would have to sign off on exemptions.
“(The bill) is carefully designed to ensure any companies participating in the sandbox operate in a safe and sound manner,” said Toews.
Breaking the rules could result in fines up to $100,000 for a first offence and up to $200,000 for subsequent violations.
Toews said the province is seeking a higher profile and to gain benefits from the emerging fintech industry.
The province expects interest in a range of technologies, including blockchains, which are decentralized online record- keeping and authentication programs for cryptocurrency transactions.
There are also developments in software allowing apps to talk to each other and security precautions such as fingerprint and facial recognition.
There is emerging work in database accounting programs that can be shared in real time across multiple platforms.
This report by The Canadian Press was first published March 30, 2022.
The new Red Deer Justice Centre will help Albertans resolve their legal matters faster.
Albertans deserve to have access to a fair, accessible and transparent justice system. Modernizing Alberta’s courthouse infrastructure will help make sure Alberta’s justice system runs efficiently and meets the needs of the province’s growing population.
Alberta’s government has invested $191 million to build the new Red Deer Justice Centre, increasing the number of courtrooms from eight to 12, allowing more cases to be heard at one time.
“Modern, accessible courthouses and streamlined services not only strengthen our justice
system – they build safer, stronger communities across the province. Investing in the new Red Deer Justice Centre is vital to helping our justice system operate more efficiently, and will give people in Red Deer and across central Alberta better access to justice.”
Government of Alberta and Judiciary representatives with special guests at the Red Deer Justice Centre plaque unveiling event April 22, 2025.
On March 3, all court services in Red Deer began operating out of the new justice centre. The new justice centre has 12 courtrooms fully built and equipped with video-conference equipment to allow witnesses to attend remotely if they cannot travel, and vulnerable witnesses to testify from outside the courtroom.
The new justice centre also has spaces for people taking alternative approaches to the traditional courtroom trial process, with the three new suites for judicial dispute resolution services, a specific suite for other dispute resolution services, such as family mediation and civil mediation, and a new Indigenous courtroom with dedicated venting for smudging purposes.
“We are very excited about this new courthouse for central Alberta. Investing in the places where people seek justice shows respect for the rights of all Albertans. The Red Deer Justice Centre fills a significant infrastructure need for this rapidly growing part of the province. It is also an important symbol of the rule of law, meaning that none of us are above the law, and there is an independent judiciary to decide disputes. This is essential for a healthy functioning democracy.”
“Public safety and access to justice go hand in hand. With this investment in the new Red Deer Justice Centre, Alberta’s government is ensuring that communities are safer, legal matters are resolved more efficiently and all Albertans get the support they need.”
“This state-of-the-art facility will serve the people of Red Deer and surrounding communities for generations. Our team at Infrastructure is incredibly proud of the work done to plan, design and build this project. I want to thank everyone, at all levels, who helped make this project a reality.”
Budget 2025 is meeting the challenge faced by Alberta with continued investments in education and health, lower taxes for families and a focus on the economy.
Quick facts
- The new Red Deer Justice Centre is 312,000 sq ft (29,000 m2). (The old courthouse is 98,780 sq ft (9,177 m2)).
- The approved project funding for the Red Deer Justice Centre is about $191 million.
Show your Alberta side. Buy Local. |
When the going gets tough, Albertans stick together. That’s why Alberta’s government is launching a new campaign to benefit hard-working Albertans.
Global uncertainty is threatening the livelihoods of hard-working Alberta farmers, ranchers, processors and their families. The ‘Buy Local’ campaign, recently launched by Alberta’s government, encourages consumers to eat, drink and buy local to show our unified support for the province’s agriculture and food industry.
The government’s ‘Buy Local’ campaign encourages consumers to buy products from Alberta’s hard-working farmers, ranchers and food processors that produce safe, nutritious food for Albertans, Canadians and the world.
“It’s time to let these hard-working Albertans know we have their back. Now, more than ever, we need to shop local and buy made-in-Alberta products. The next time you are grocery shopping or go out for dinner or a drink with your friends or family, support local to demonstrate your Alberta pride. We are pleased tariffs don’t impact the ag industry right now and will keep advocating for our ag industry.”
Alberta’s government supports consumer choice. We are providing tools to help folks easily identify Alberta- and Canadian-made foods and products. Choosing local products keeps Albertans’ hard-earned dollars in our province. Whether it is farm-fresh vegetables, potatoes, honey, craft beer, frozen food or our world-renowned beef, Alberta has an abundance of fresh foods produced right on our doorstep.
Quick facts
- This summer, Albertans can support local at more than 150 farmers’ markets across the province and meet the folks who make, bake and grow our food.
- In March 2023, the Alberta government launched the ‘Made in Alberta’ voluntary food and beverage labelling program to support local agriculture and food sectors.
- Through direct connections with processors, the program has created the momentum to continue expanding consumer awareness about the ‘Made in Alberta’ label to help shoppers quickly identify foods and beverages produced in our province.
- Made in Alberta product catalogue website
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