What does the new Prime Minister of Canada think about Crypto?

On March 9, 2025, it was revealed that Mark Carney will replace Justin Trudeau as leader of the Liberal Party and Prime Minister of Canada. Is this a victory for the Canadian cryptography community?

Who is Mark Carny

For five years, Carney served as governor of the Bank of Canada. In addition to this, for seven years, he was the governor of the Bank of England. Carney was the first non -British person to occupy this position. It has a solid experience in the financial and technological sectors. Carney has Harvard and Oxford titles. He spent more than a decade working for Goldman Sachs in several offices worldwide.

Carney received almost 86% of the votes in the race for the leadership of the Liberal Party after Trudeau's resignation. Trudeau resigned in the midst of the economic decline and discontent expressed by several demographic data. Carney did not participate in the Trudeau cabinet; However, he advised Trudeau about the economic rehabilitation he had followed at age 19.

After the victory in the elections, Carney finally declared that Canada would never be part of the United States, its program aims to solve economic problems and reduce government spending and taxes for the middle class. Some believe that Carney's victory can be explained Due to their economic experience, especially necessary, since economic conditions worsened due to the commercial war unleashed by Donald Trump.

<h2 class="wp-block-heading" id="carneys-stance-on-crypto-in-the-past-years”>Carney posture about crypto in recent years

Carney's victory is not good news for the local cryptographic community. The designated prime minister has been skeptical with bitcoin and has expressed a preference for the digital currencies of the Central Bank, leaning towards the opposite approach for the adopted in the United States lately.

In a 2018 speech, Carney gave as she served as the governor of the Bank of England, saying that cryptocurrencies are failing as much as a currency as a value reserve. He compared the characteristics of cryptography as a short -term value warehouse with the lottery. In addition, in the speech, Carney criticized bitcoin's low capacity, explaining that 7 transactions per second are not enough to become a competitive means of payment. He attributed the lack of brick and mortar merchants who accept bitcoin to this.

In 2021, Carney called The CBDC higher than Stablecoins, believing that the public will prefer CBDC on the assets launched by private companies. In general, Carney emphasizes that most cryptocurrencies have no intrinsic value, but still believes that some of the native tokens and nft will persist. Carney says that CBDCS will help fight terrorism and economic crime. In contrast to this, Trump prohibited the development of the US CBDC for some time.

<h2 class="wp-block-heading" id="what-does-carney-think-of-crypto-now”>What does Carney of crypto think now?

We do not know much about the current Carney position in crypto; However, taking into account the past disgust of cryptocurrencies and the current approach to ai, it seems that Canada will not become a strong short -term cryptography center. Several media cite the recent Comments of Carney about crypto. It allegedly called bitcoin not money, but a speculative asset that damages financial stability. However, no link to the source was provided. Carney has served as a member of the Board of Directors in Stripe, a platform that admitted cryptographic payments between 2022 and 2024. But Carney should not see it as a somewhat cryptographic movement.

While Carney does not support the idea that cryptocurrencies can be somewhat useful for Canada, he likes ai. The future prime minister believes that ai may maximize efficiency, reduce costs, reduce waste and increase productivity. The particularly names Education, medical care and construction as spheres that should be improved through ai. More than that, Carney suggests that Canada must become the world leader in ai and digital technologies. Ask for multimillionaire investments in ai and the construction of data centers.

Trudeau vs. Carney

Trudeau has been a vocal critic of bitcoin and other cryptocurrencies. While the United States is struggling to stop the debate of cryptographic companies (Operation Choke Point 2.0), Trudeau, in 2022, unleashed a similar policy against political enemies. That year, the Canadian emergency law was used to freeze the bank accounts of the “convoy of freedom” protesters and block cryptography donations. In January 2024, the federal judge found unconstitutional the invocation of the emergency law to freeze bank accounts and block cryptography.

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https://twitter.com/justintrudeau/status/1569489034673815552?t=onn4uynjwpoyr8qm-he9gg&s=19

In addition to that, Trudeau went to x to denounce the use of cryptography to combat inflation, describing it as “is not responsible leadership.” Trudeau's resignation gave the Canadian cryptographic community hope for a more friendly prime minister with cryptographic. However, Carney is even harder in digital assets than her predecessor.