The Conservative leadership hopeful also said at a news conference Thursday that he would increase parliamentary oversight of the central bank
Conservative leadership candidate Pierre Poilivre said on Thursday that he would oppose a public digital currency backed by the Bank of Canada and would increase parliamentary oversight of the central bank.
Mr. Poilievre – a vocal supporter of cryptocurrencies such as bitcoin – told a news conference held in front of the Bank of Canada museum in downtown Ottawa that he would not let the central bank launch a public digital currency. “Furthermore, the government controls your bank account, it can surveil what you’re doing what you’re spending, and potentially abuse your civil liberties,” he said.
“Central banks’ involvement might well be creating something that is basically digital fiat, but then it would be for the private sector to innovate and figure out ways of using it and incorporating it in smart contracts,” Bank of Canada deputy governor Tim Lane said at a conference earlier this week.
Mr. Polievre has made monetary issues a major part of his bid to secure party leadership, notably promising to make Canada the “blockchain and cryptocurrency capital of the world.” He has said that cryptocurrencies like Bitcoin offer Canadians a chance to “opt-out” of inflation.
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