Poilievre Vows to Ban Canadian CBDC, Citing Privacy Risks
Conservative leader Pierre Poilievre has reaffirmed his opposition to a Canadian CBDC. He vowed to ban any Bank of Canada digital currency if elected prime minister. Poilievre warned that a Canadian CBDC could pose serious privacy risks and enable government overreach.
He contrasted his stance with his pro-cryptocurrency view. Poilievre expressed support for Bitcoin and decentralized cryptocurrencies as alternatives to central bank digital money. His pledge intensifies the political debate over digital currencies in Canada.
Bullish
Poilievre’s strong opposition to a Canadian CBDC and his endorsement of Bitcoin signals political support for decentralized cryptocurrencies. Traders often interpret anti-CBDC rhetoric as a sign that regulatory pressure on established digital assets may ease. In past cases—such as when U.S. lawmakers voiced concerns over a digital dollar—bitcoin prices saw short-term rallies as investors sought alternatives. In the short term, this news is likely to boost Bitcoin trading volume and price momentum. Over the long run, sustained political backing for crypto-friendly policies could encourage broader adoption, reinforcing a bullish outlook for the market.