{"id":506347,"date":"2022-11-04T04:08:31","date_gmt":"2022-11-04T01:08:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/canada-to-examine-crypto-stablecoins-and-cbdcs-in-new-budget\/"},"modified":"2022-11-04T04:08:31","modified_gmt":"2022-11-04T01:08:31","slug":"canada-to-examine-crypto-stablecoins-and-cbdcs-in-new-budget","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/canada-to-examine-crypto-stablecoins-and-cbdcs-in-new-budget\/","title":{"rendered":"# Canada to examine crypto, stablecoins, and CBDCs in new budget"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c6dde6eddb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c6dde6eddb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/canada-to-examine-crypto-stablecoins-and-cbdcs-in-new-budget\/#%E2%80%9D_Canada_to_examine_crypto_stablecoins_and_CBDCs_in_new_budget_%E2%80%9C\" >&#8221; Canada to examine crypto, stablecoins, and CBDCs in new budget &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Canada_to_examine_crypto_stablecoins_and_CBDCs_in_new_budget_%E2%80%9C\"><\/span>&#8221; Canada to examine crypto, stablecoins, and CBDCs in new budget &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmMxNzc5OGItNWJmMy00MGUwLWJmNzYtNDEwYjI0NmY4YWVhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>The Canadian federal government is set to launch a consultation on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) as revealed in its new mini-budget.<\/p>\n<p>The government&#8217;s \u201c2022 Fall Economic Statement\u201d released on Nov. 3 by Deputy Prime Minister Chrystia Freeland works as a fiscal update in conjunction with its main yearly budget. <\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.budget.gc.ca\/fes-eea\/2022\/report-rapport\/chap3-en.html#a7\">statement<\/a> included a small section on \u201cAddressing the Digitalization of Money\u201d that outlined the government\u2019s crypto plans.<\/p>\n<p>It said the rise in cryptocurrencies and money digitalization is \u201ctransforming financial systems in Canada and around the world\u201d and the country\u2019s financial system regulation \u201cneeds to keep pace.\u201d<\/p>\n<p>The statement opined that money digitalization \u201cposes a challenge to democratic institutions around the world\u201d highlighting cryptos use in sanctions avoidance and illicit activity financing both domestically and abroad.<\/p>\n<p>In the statement, the government said consultations with stakeholders on digital currencies, stablecoins, and CBDCs are being launched on Nov. 3 although exactly which stakeholders will be engaged remains unclear.<\/p>\n<p>The announced consultations is understood to be as part of the government\u2019s intention to launch a \u201cfinancial sector legislative review focused on the digitalization of money and maintaining financial sector stability and security,\u201d which was part of the 2022 budget released on Apr. 7. <\/p>\n<p>This review will also examine the \u201cpotential need\u201d of a Canadian CBDC in light of these risks.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Quebec&#8217;s energy manager to seek government <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval to stop powering crypto miners<\/em><\/strong><\/p>\n<p>In January protests broke out in the nation&#8217;s capital of Ottawa regarding the COVID-19 vaccine mandate and restrictions in Canada with protestors migrating to crypto fundraising platforms after being kicked off competing fiat fundraising platforms.<\/p>\n<p>The province of Ontario declared a state of emergency on Feb. 11 due to the protestor\u2019s road blockades resulting in its government freezing millions in donations to protestors, at the time protestors raised around 21 Bitcoin (BTC), worth $902,000.<\/p>\n<p>Prime Minister Justin Trudeau invoked the Emergencies Act on Feb.14 for the first time in Canada\u2019s history giving him the power to freeze protesters\u2019 bank accounts and monitor \u201clarge and suspicious transactions,\u201d including crypto. <\/p>\n<p>Two days later Canada&#8217;s federal police force sent letters to several crypto exchanges demanding they stop processing transactions of more than 30 specific crypto wallet addresses linked to the ongoing protests.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/canada-to-examine-crypto-stablecoins-and-cbdcs-in-new-budget\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Canada to examine crypto, stablecoins, and CBDCs in new budget &#8220; The Canadian federal government is set to launch a consultation on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) as revealed in its new mini-budget. The government&#8217;s \u201c2022 Fall Economic Statement\u201d released on Nov. 3 by Deputy Prime Minister Chrystia Freeland works as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":506348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmMxNzc5OGItNWJmMy00MGUwLWJmNzYtNDEwYjI0NmY4YWVhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,75159,77189,75493,22974,71511,55229,70934],"class_list":["post-506347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-digital-currency","tag-policies","tag-stablecoin","tag-canada","tag-government","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=506347"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/506347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/506348"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=506347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=506347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=506347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}