What does Canada’s new PM think about Crypto?

On March 9, 2025, it was discovered that Marks Carney would convert Justin Trudeau as Liberal Party leader and Canadian Prime Minister. Is this a win for the Canadian Crypto community?

Who is Mark Carney

For five years, Carney served as the Governor of the Bank of Canada. At its top, for seven years, he was the Governor of the Bank of England. Carney was the first non-British person to occupy the post. He has a solid background in financial and technical fields. Carney has obtained degrees from Harvard and Oxford. He spent more than a decade for Goldman Sachs in various offices around the world.

After Trudeau’s resignation, Carney got about 86% of the votes in the Liberal party leadership race. Trudeau stepped into amidst the economic decline and dissatisfaction expressed by various demographics. Carney did not participate in Trudeau’s cabinet; However, he advised Trudeau on economic rehabilitation, which followed Kovid -19 years.

After winning the election, Carney eventually stated that Canada would never be a part of the USA, his program is aimed at resolving economic troubles and cutting government expenditure and taxes for the middle class. Some believe that Carney can win Explained His economic expertise especially given that the economic situation deteriorated due to the trade war by Donald Trump.

Carney’s trend on Crypto in previous years

Carney’s victory is hardly good news for the local Crypto community. The Prime Minister’s nominated bitcoins doubt and expressed a priority for the central bank digital currencies, thus bending towards an opposite approach adopted in the US.

In a 2018 speech, Carney served as the Governor of Bank of England, he Said This cryptocurrency is failing both as a reserves of currency and value. He compared Crypto’s characteristics as a short -term store of value for lottery. In addition, in speech, Carney was important for the low capacity of bitcoin, stating that 7 transactions per second are not enough to become a competitive means of payment. Accepting bitcoin, he blamed the lack of brick-and-mortar traders.

In 2021, Carney called CBDCs are better than stablecoins, assuming that the public will prefer CBDCs on the property initiated by private companies. In general, Carney insisted that most cryptocurrency has no internal value, but he still believes that some native tokens and NFTs will remain. Carney says that CBDC will help fight terrorism and economic crime. In contrast, Trump banned the development of US CBDC for some time.

Now what does Carney think about Crypto?

We do not know much about Carney’s current stance on Crypto; However, focusing the present focus on the anorexia and AI of the past for cryptocurrency, it seems that Canada is never going to be a strong crypto hub soon. Many media outlets cite Carney’s recent comments on Crypto. Allegedly he called bitcoin not money but a speculative property that damages financial stability. However, no link to the source was provided. Carney has served as a member of a board of directors in the strip, a platform that supported the crypto payment between 2022 and 2024. But Carney should not see it as a crypto-friendly step.

While Carney does not support the idea that cryptocurrency may be somewhat useful for Canada, he is fond of AI. The future Prime Minister believes that AI will be able to maximize efficiency, cut costs, reduce waste and increase productivity. He is particularly Name The construction in the form of education, healthcare, and construction which must be improved through AI. More than this, Carney suggests that Canada should become the leader of the world in AI and digital technologies. He asks for multi-trilian investment and data centers in AI.

Trudeau vs Carney

Trudeau has been an outspoken critic of bitcoin and other cryptocurrency. While the US in 2022 is fighting to prevent the debut of crypto companies (Operation Chok Point 2.0), Trudeau highlighted a similar policy against political enemies. That year, the Canadian emergency law was used to freeze bank accounts of “freedom convoy” protesters and block Crypto donations. In January 2024, the federal judge found the call of the Emergency Act unconstitutional to freeze bank accounts and block Crypto.

At her top, Trudeau took the X into X to condemn the use of crypto to fight inflation, calling it “not responsible leadership”. Trudeau’s resignation hoped the Canadian Crypto community for a more crypto-friendly PM. However, Carney is also rigid on digital assets compared to its predecessor.