Bank of Canada’s senior deputy governor says the central bank does not want to wait until crypto “gets a lot larger” before it brings regulatory controls in place. “This is an area that is still small, but it’s growing really rapidly,” the official said. Bank of Canada’s Official Stresses the Importance of Crypto Regulation Bank…
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The economist David Dodge, the former seventh governor of the Bank of Canada, says gold is an “antique instrument,” and he believes Canada’s central bank got rid of its gold reserves for this very reason. Despite saying gold is an outdated financial tool, Dodge said that the leading crypto asset bitcoin (BTC) has no place…
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“In particular, Canadians who were young, male, employed, had a university degree, high household income and relatively low financial literacy were more likely to own Bitcoin.” A study from the Bank of Canada found that Bitcoiners on average have lower financial literacy than those who don’t own Bitcoin (BTC). The study was compiled from four…
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Quantum computer simulations conducted by researchers at quantum computing startup Multiverse Computing and the Bank of Canada have shown that crypto adoption among merchants can spread in “cliques of firms”, as individual firms generally base decisions on what their partners do…. Read More: Quantum Simulations Predict that Merchant Crypto Adoption Could Spread in ‘Cliques’…
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Canada is one of the first countries to approve a Bitcoin ETF and is the fourth-largest nation in terms of hash rate. Cryptocurrencies like Bitcoin (BTC) do not pose any significant risk to the financial system at their current level of adoption, according to Bank of Canada deputy governor Paul Beaudry. Beaudry spoke about the…
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Amid the global CBDC race, the Canadian central bank does not currently see a strong case for issuing a state digital currency. The Bank of Canada does not see a strong reason for issuing a central bank digital currency at the moment. Timothy Lane, the Bank of Canada’s deputy governor and head of research at…
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Timothy Lane says the central bank is developing a CBDC at “a good pace.” According to an Oct. 15 report from The Canadian Press, the Bank of Canada, or BoC, deputy governor Timothy Lane said central banks should have their own digital currency ready should regulators block Facebook’s Libra token. They also noted such an…
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Is risk in the eye of the beholder? Canada’s central bank, the Bank of Canada, recently put out a report on the risks and benefits of a central bank digital currency. “An anonymous token-based central bank digital currency (CBDC) would pose particular security risks,” the Bank of Canada wrote in its Oct. 5 report. “These risks arise from…
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