Contender For Prime Minister Of Canada Supports BTC Usage As A form Of Payment

“Canadians ought to be permitted to use BTC and crypto-assets as means of payment,” noted a contender for the position of Prime Minister, Poilievre.

On the 29th of March, a channel on YouTube known as BITCOIN posted a short video of Poilievre talking to a crowd of around 100 persons. The PM candidate declared that Canadian citizens need “more financial independence such as the right to own any virtual currency, smart contracts, tokens, and Defi.” 

“Everyone should be able to choose their own currency.” If the state is planning to abuse our money, we should be able to utilize other, higher currency.”

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Trudeau Acted Against Cryptocurrency 

Talking about the Liberty Convoy rallies which took place in Ontario at the start of 2022, the Canadian authorities, led by PM Justin Trudeau of the Liberty party, chose a difficult position against digital currencies. Canadian authorities froze protestors’ bank accounts both in February and also January. This move was in an attempt to hinder all contributions to the drivers, especially payments made in digital currency.

Koleya Karringten, the exec director of CBC (Canadian Blockchain Consortium), told Cointelegraph earlier that the Liberal political party is very “hostile to cryptocurrency” as a result of a “lack of information, understanding, and legislative efforts.”

“Having a strong political posture to enlighten the authorities on the blockchain is critical. When people see the amount of tax income, they’ll realize this industry is not for criminal activities; it’s an innovative industry,” she stated. Karringten reckons the number of crypto holders has increased so far. 

Increase In Number Of Crypto Holders In Canada 

Considering his zeal, Poilievre’s advocacy for BTC might be attractive to a small segment of Canadians. As noted by research firm Ipsos around 14% of Canadians above 18yrs possessed BTC as of October. That number increased by 3% in 2016, signifying a fantastic growth rate.

The prospects of virtual currency adoption are promising, as Ipsos discovered that roughly 25% of people in Canada are considering purchasing cryptocurrency in the near future. This opinion is supported by a poll published in January by Cointelegraph, which found that 62 % of 1,000 respondents in Canada would be intrigued to be paid in cryptocurrency by 2027.

The exec director agrees that Canada’s acceptance of digital currency is likely to be positive. People in the region of Alberta, in which the head office of CBC is located, are expressing a “massive rise” in awareness. She noted that;

“Financial institutions can no longer ignore it.” Legislators can no longer deny it. “How then can we embrace it?” they’re asking now.”

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