Canadian Prime Minister Justin Trudeau’s decision to step down could pave the way for a new government stance on digital assets. Trudeau, who has long been seen as resistant to crypto, notably froze digital wallets during the 2022 Freedom Convoy protests. According to CoinDesk, this move stirred controversy and became a rallying cry for crypto advocates, both in Canada and the U.S.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
New Leadership Could Shift Crypto Policies
The next leader of Canada’s Liberal Party, and thus the next prime minister, could adopt a more crypto-friendly position. However, provincial governments hold more power over crypto regulations in Canada. Despite Trudeau’s departure, much of Canada’s crypto future still depends on how provincial authorities regulate digital assets.
With figures like Mark Carney, former Governor of the Bank of Canada and Bank of England, possibly entering the political race, Canada’s digital currency policies could soon change. Carney’s previous comments on stablecoins and crypto regulation could influence the industry’s future in Canada.
Investors can track their favorite cryptocurrencies on TipRanks. Click on the image below to find out more.
