Is Canada against cryptocurrencies?
Surprisingly, the digital community still faces criticism. As a rule, a skeptical point of view is used by leading financial institutions, which are afraid of decentralization and other advantages of the crypto industry. It is absolutely normal that organizations with a history of the world are wary of new technologies. However, at times, blockchain rejection goes beyond all boundaries. Something similar happened today at the state bank of Canada. The deputy of the organization expressed an extremely radical position regarding cryptocurrencies, which immediately affected the course of the leading coins. Below we will tell you how Canadian experts view the industry. So let’s get started.
Central bank position
Let’s immediately outline the context – the deputy head of the Central Bank of Canada made a statement. The financial expert commented on the current market prices for digital assets and noted that their uncompromising growth is not a steady trend. But banal speculation. According to the expert, digital assets grow only because of the desire to make quick money. Users supposedly just sell savings and also do not see prospects in digital means. The fact is denied that the price is backed by the interest of the world community and unconditional advantages over classical means. The Canadian Central Bank does not see any prospects in Bitcoin and similar digital currencies.
According to the deputy head of the structure, digital means are a tool for conducting illegal activities. Not more. The role in the global economy, in their opinion, is completely absent. As well as the prospects for the development of Bitcoin. According to the deputy head of the organization, the fact that one publication is enough to influence the price of a coin shows how unstable and unreliable Bitcoin is. That is, the position, as you understand, is very categorical. Now let’s imagine how such statements will affect the future of the cryptoindustry.
How claims of Canada will affect digital coins
Note that recently, not only Canada speaks negatively about the digital industry. For example, several of Tesla’s top investors sold their own shares after the company invested in Bitcoin. The venture’s investments have been described as appalling but impressive and exciting. However, on a more serious level, there are no comments on digital assets. The only thing that can be noticed is the opinion of the former Prime Minister of Canada. Despite the fact that the position is no longer for Stephen Harper, his opinion is taken into account in the industry. The specialist believes that Bitcoin has great potential and may well compete with the US dollar in achieving the status of Canada’s reserve asset.
Most likely, this is an overly positive view of the current situation. But even such optimistic statements are better than a complete denial of the crypto industry. After all, Canada is a major player in the modern economic arena. They listen to the opinion of the state and imitate its example. Consequently, there is a high probability that such a position will be announced by other countries. At the moment, the cost of Bitcoin has dropped to the level of 46 thousand dollars. Some users associate the fall in value precisely with Canada’s categorical position.
What will happen next? Time will show. To stay up to date with the latest developments in the crypto industry, follow the news of the world of Blockchain and digital coins with us. We publish only high-quality and interesting material. Thank you for attention. We wish you good luck and calm work!