Canadian dollar to stay at core of financial system, not crypto: Bank of Canada
The Canadian dollar will remain at the centre of the country’s financial system, the central bank chief said, responding to questions about a Conservative leadership candidate’s pledge to make the country the blockchain capital of the world. “There are promising benefits from innovation in the financial sector. Having said that, we certainly expect the Canadian dollar will remain at the centre of the Canadian financial system,” Bank of Canada Governor Tiff Macklem said in testimony before a committee of the House of Commons. The Bank of Canada is currently working on its own central bank digital currency, a so-called digital loonie, that could be launched if a private digital tender were to take off as a payment system. (Reuters)
