Canada Makes Digital Currency

Canada Makes Digital Currency

The Bank of Canada is considering launching a digital currency that would help it combat the “direct threat” of cryptocurrencies and collect more information on how people spend their money, The Logic has learned. The Bank of Canada, by contrast, has been relatively quiet about digital currencies in recent months. In April, deputy governor Timothy Lane spoke at an International Monetary Fund event on the topic. In July, the bank told The Logic it would monitor Libra for potential risks to the financial system, but did not specify any particular concerns.

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Name: Financial Post

Original Source: https://business.financialpost.com/technology/blockchain/bank-of-canada-exploring-digital-currency-that-would-replace-cash-track-how-people-spend-money

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