Mark Carney Takes Canada’s Helm: CBDCs In, Crypto Out?
Canada’s new Prime Minister, Mark Carney, stormed into power on March 9, 2025, with a landslide 85.9% win in the Liberal Party leadership race, replacing Justin Trudeau after a decade of ups and downs. Announced on March 10, the ex Bank of England and Bank of Canada governor brings a fat resume and a fat skepticism of crypto to the table. Known for slamming Bitcoin as a “failed store of value” in 2018 and calling its fixed supply a “serious deficiency,” Carney is no fan of decentralized digital dreams.
Instead, he is all in on central bank digital currencies (CBDCs). “The potential superiority of CBDCs reinforces the undesirability of currency competition,” he’s said, pushing for a government controlled digital dollar to boost security and inclusion while keeping Big Tech’s stablecoins in check. With Trudeau out after resigning in January amid cost of living gripes, Carney is stepping into a Canada facing U.S. tariffs and a crypto community on edge. Posts on X are already buzzing: “Carney’s CBDC love could choke BTC in Canada,” one user warned.
Facing off against pro crypto Conservative Pierre Poilievre, Carney’s got a fight ahead in the 2025 election. His plan? Lean hard into AI and digital innovation on his terms. Crypto hodlers might not like it, but Carney is signaling a future where the state, not Satoshi, calls the shots. Stay tuned, Canada, this could get wild.
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