Pierre Poilievre Reaffirms Stance Against Canadian CBDC

Canadian Conservative Party leader Pierre Poilievre once again slammed plans by the Bank of Canada to create a central bank digital currency (CBDC) in a video published Sunday where the 46-year-old politician can be seen answering questions from constituents in an intimate setting. In the video, a local farmer expresses concerns over the implementation of a CBDC and the possibility of a cashless society. “Do you support CBDCs,” Poilievre says, repeating the farmer’s question. “Absolutely not.” The crowd then breaks into loud applause. Poilievre lost his bid for the Prime Minister position to Liberal Party head Mark Carney who previously served as governor at the Bank of Canada and the Bank of England. Carney has dismissed bitcoin in the past but has shown an interest in CBDCs. However, the Bank of Canada appears to have recently moved away from the idea of creating a CBDC. According to the institution’s website, “the Bank is scaling down its work on a retail central bank digital currency and shifting its focus to broader payments system research and policy development.”