According to the Bank of Canada’s official website, the Bank of Canada launched an online public consultation on the Bank of Canada Digital Currency (CBDC) on May 8.
The consultation service is online and will continue to be available until June 19, 2023, as announced. director I got it.
Canadian digital dollar
A consultation platform allows participants to express their opinions on the characteristics of the Canadian digital dollar.
The Bank of Canada also said Canada does not need a digital dollar anytime soon. This consultation was initiated in anticipation of a possible future need for a CBDC.
Carolyn Rogers, Senior Vice-Governor of the Bank of Canada, underscored the objectives of the talks, saying:
“As the central bank of Canada, we want to ensure that everyone can participate in the economy of our country at any time.
“We would love to hear from Canadians on what they value most in the design of their digital dollar. it helps you to.”
Banks are primarily interested in learning how Canadians use their digital dollar, what security features are important, and what citizens have concerns about CBDC accessibility and privacy.
The announcement also states that cash usage will remain the same no matter when the Canadian digital dollar is released.
canadian crypto
Canada has been collecting information on all branches related to crypto in recent years. Last year, the Bank of Canada conducted a thorough study of cryptocurrency awareness, ownership and quantum computing simulations, and announced its findings in April 2022. The country will also start talks on stablecoins, cryptocurrencies in general and CBDC in November 2022.
Despite all the data collected, Canada offers little when it comes to crypto regulation. In September 2022, Bitcoin (BTC) maximalist politician Pierre Polivre was elected leader of Canada’s Conservative Party. Despite this indicating a public stance on cryptocurrencies, the country halted adoption of cryptocurrencies a month later, much less expanding it.
In December 2022, Canadian securities and administrators banned domestic cryptocurrency exchanges from offering margin or leveraged trading services to Canadian users. In February 2023, Canada took regulation one step further, requiring cryptocurrency exchanges to comply with a new set of rules, requiring them to comply within 30 days.
