The Candidate For Prime Minister of Canada Supports Freedom To Use Bitcoin As Money

Pierre Poilievre, the Conservative Party’s candidate for Prime Minister in Canada, has come out in favor of enabling Canadians to use Bitcoin (BTC) as legal money.

On March 29, the YouTube channel BITCOIN released a video showing Poilievre speaking in front of a gathering of around 100 people at a nearby restaurant, declaring that Canadians need “more financial freedom.” “This includes the freedom to own and use cryptocurrency, tokens, smart contracts, and decentralized finance,” he continued.

“People should have the freedom to choose other money. If the government is going to abuse our cash, we should have the freedom to use other, higher quality cash.”

In reaction to the Freedom Convoy rallies in Ontario earlier this year, the Canadian government, led by Liberal Party Prime Minister Justin Trudeau, adopted a harsh stand against cryptocurrency. Canadian government seized protestors’ bank accounts in January and February, attempting to prohibit any donations to the truckers, including those made in cryptocurrency.

Koleya Karringten, Executive Director of the Canadian Blockchain Consortium (CBC), said today that the Liberal administration is now “hostile to crypto,” owing to a “lack of knowledge, understanding, and regulatory clarity.”

“It’s important to have a strong advocacy position to educate the government on blockchain. Once they see the level of tax revenue, they will know this isn’t an industry for criminals, it’s an industry for innovation.”

Following the issues created by Canada Prime Minister Trudeau using the Emergencies Act in February, Karringten believes there are now more crypto holders. According to Catalyst, a non-profit organization, the issues may have resembled a bank run.

Despite his enthusiasm, Poilievre’s advocacy for Bitcoin may only appeal to a limited segment of the Canadian population. Only around 14% of Canadian people over the age of 18 held bitcoin as of late October, according to research company Ipsos. That amount, however, is up from just 3% in 2016, indicating a fantastic rate of growth.

The future of Canada’scryptocurrency adoption is bright, as Ipsos discovered that roughly 25% of Canadian people are contemplating purchasing cryptocurrency in the future. This opinion is supported by a poll published in January, which found that % of 62% out of 1,000 Canadian respondents would be interested in getting paid in cryptocurrency by 2027.

Kerrington agrees that Canada’s embrace of cryptocurrency is likely to be positive. Residents in the province of Alberta, where the CBC is based, have reported a “huge increase” in interest.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

CoinCu News