RATE Group | Bank of Canada Warms To National Cryptocurrency, Will it Compete Against Bitcoin?
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Bank of Canada Warms To National Cryptocurrency, Will it Compete Against Bitcoin?

18 Oct Bank of Canada Warms To National Cryptocurrency, Will it Compete Against Bitcoin?

Posted at 08:29h in Bitcoin News by

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Leaks within the Bank of Canada show officials are considering the development of a national cryptocurrency. As such, with interest in central bank digital currencies (CBDCs) on the rise, could it threaten bitcoin?

bank of canada interest in national cryptocurrency

National Cryptocurrency

Mike Eppel, Senior Business Editor at 680 News, has revealed that Canada’s central bank is considering the development of a national cryptocurrency.

During his interview, Eppel drew attention to concerns surrounding cryptocurrencies, such as inadequate regulatory frameworks, as well as volatility. But all the same, he posed the question, is this the next phase in how we transact?

And that question is something Bank of Canada officials are in the process of considering. He said:

“The Bank of Canada wants to get ahead of the curve. They have this internal memo saying, yeah, eventually, they’re likely going to launch some sort of crypto.”

Having said that, as the conversation continued, it became apparent that the underlying reasons for this come…

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