What You Need to Know:
- Prime Minister Justin Trudeau will step down as the leader of the Liberal Party and Prime Minister after almost a decade in office.
- Trudeau has historically resisted digital assets, opening up possibilities for a more cryptocurrency-friendly successor.
Canadian Prime Minister Justin Trudeau's announcement aligns with a prevailing sentiment in the crypto community seeking a leader more open to digital currencies. He stated:
"I intend to resign as party leader, as prime minister, after the party selects its new leader," citing various internal issues complicating governance. Translation: "Saya berniat untuk mengundurkan diri sebagai pemimpin partai, sebagai perdana menteri, setelah partai memilih pemimpin baru."
Critics of Trudeau lament his government's clampdown on digital wallets during the 2022 Freedom Convoy protests. The freezing of these accounts sparked concern and became a rallying point for opponents of central bank digital currencies (CBDCs).
Upcoming Elections
With a national election on the horizon in October, Pierre Poilievre, leader of the Conservative Party, is currently positioned advantageously in polls. A known advocate for digital assets, he seems to resonate with many who support U.S. politics aligned with former President Donald Trump.
Although the Prime Minister may hold significant influence, Canada’s securities regulations rest with provincial agencies, complicating the potential impact of upcoming political changes on crypto policy.
A potential successor to Trudeau is Mark Carney, the former governor of the Bank of Canada. While he hasn’t declared his candidacy, Carney has previously voiced substantial insights on crypto, emphasizing:
“Tokens at the heart of programmable networks will have to remain just that - of token value.” Translation: "Token yang ada di jantung jaringan yang dapat diprogram harus tetap seperti itu - memiliki nilai token."
As the political landscape evolves, the future of Canada's stance on cryptocurrency remains uncertain and will likely depend on forthcoming leadership choices.
