Crypto poses no big risk to economy so far, Bank of Canada official says
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 risks to the stability of the Canadian financial system at the Ontario Securities Commission Dialogue 2021 on Tuesda.When asked whether cryptocurrencies are a risk, the deputy governor responded that the Bank of Canada doesn’t think that crypto is “developing in a way....
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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 of Canada Senior Deputy Governor Carolyn Rogers talked about cryptocurrency regulation in an interview with Reuters Thursday.
“This is an area that is still small, but it’s growing....
The Bank of Canada is looking into possibly issuing its digital currency like Bitcoin, according to a senior official in the bank, CBC News reports. Carolyn Wilkins, the bank's senior deputy governor, said so in a keynote address entitled, "Money in a Digital World" at Wilfrid Laurier University in Waterloo, her alma mater. At the same time, she said that the bank is keeping a close eye on both benefits and drawbacks of digital currency. Wilkins says Bitcoin and other digital currencies have a long way to go before they can truly circumvent central banks, since the daily number of....
There's been a whole lot of innovation in the world of bitcoin going on in Canada. Just this morning we reported of CoinTap's business coming to life in a Canadian pub. Wednesday, we reported that another bitcoin ATM in Canada would start operating in Ottawa Thursday. All through the the Canadian government has been relatively silent. Until now, that is. The Wall Street Journal is reporting that a government official in the country has said that bitcoin is not recognized as legal tender within their borders. "Only Canadian bank notes and coins are recognized as legal tender in Canada.....
Building an anonymous central bank digital currency (CBDC) presents security risks – not only to the issuer but to the users themselves, says the Bank of Canada.
This week researchers from the Bank of Canada published the central bank’s Financial System Review which highlights five key statistics tethered to Canadian bitcoin owners. According to the Bank of Canada’s metrics, 13% of Canadians own the leading crypto asset bitcoin, and “most Canadians are aware of bitcoin.” Bank of Canada’s Financial System Review Highlights Bitcoin Ownership Among Canadians On October 12, 2022, the Bank of Canada published the financial institution’s Financial System Review, which highlights some key points tied to the crypto....