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17/10/19 03:30 UTC-5

The central bank of Canada is studying cryptocurrency

CryptocurrencyCanada is exploring the possibility of launching cryptocurrency
Canada is exploring the possibility of launching cryptocurrency

The Central Bank of Canada is studying in detail the possibility of issuing digital currency, according to an internal presentation received by the Financial Post.

Cryptocurrency in Canada

The presentation was presented to Stephen Poloz, Governor of the Bank of Canada, as well as the board of directors of the central bank, as a two-year research project on whether the bank should issue its own digital currency.

According to the presentation, the digital currency issued by the central bank will offer all the benefits of assets secured by the central bank and all the convenience and security of wireless electronic payments.

“We need to innovate to stay in the game,” the presentation said.

 

The proposed digital currency can also help governments gather more information, according to the presentation.

“Personal data is not transmitted to the recipient, but can be transferred to the police or tax authorities,” the presentation said.

Interesting in the section: Libra motivates the central bank of Sweden to issue cryptocurrency

See also: "Bermuda residents will pay taxes in USDC"

#bank #Canada #cryptocurrency

Editor: Yuliya Soroka
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