The Canadian Press

2022-01-03 | BoC Digital Currency

Preview Clip

Internal government documents show Finance Department officials believe there could be sweeping implications for the economy if the Bank of Canada ever issued its own cryptocurrency.

Date: 2022-01-03
Placeline: Undated.
Source: The Canadian Press
Length: 39 seconds

Transcript Prediction: << officials warned Finance Minister Chris your Freeland last January issue Wentz of a central bank digital currency would have wide-reaching implications for the economy the financial system and the bank of Canada's operations now the Bank of Canada has opposite pace of its work on a digital currency mirroring efforts by counterparts in other countries as the covid-19 pandemic accelerate the transition to a digital economy the bank only plans to issue a digital currency if the use of physical bills for transactions flummoxed and one or more private cryptocurrencies such as Bitcoin become widely used in Canada Bitcoin adoption in Canada remains low at around 5% the coral reefs the Canadian press >>