Bank of Canada Seeks Public Feedback on CBDC
Main page News, Banking, Central Banks, Canada, CBDC

The Bank of Canada is apparently interested in launching its own central bank digital currency (CBDC), as the regulator is seeking the public's comment on a potential digital version of the Canadian dollar.

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In a press release, the regulator said it wants to hear how people would likely use the digital currency, what security features are important and what concerns people might have about accessibility and privacy.

Senior Deputy Governor, Carolyn Rogers, said the central bank wants to hear from Canadians about "what they value most in the design of a digital dollar." Rogers added:

"This will help us make design choices and ensure that it is secure, reliable and meets the needs of Canadians."

The public consultation will last until June 19, 2023. In April last year, Pierre Poilievre, a candidate for Prime Minister of Canada from the Conservative Party, said he would bar the Bank of Canada from issuing a CBDC if he wins the next federal election in 2025.

Bank of Canada: Infrastructure Behind Stablecoins Poses Risks

Poilievre, being a pro-crypto candidate, blames Canada's high inflation rate on the central bank's pandemic purchases of government bonds. He also highlighted that cryptocurrencies are a way better to "opt-out of inflation."

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