Deputy Governor of the Bank of Canada: Cryptocurrency needs new laws if it becomes a payment method
On May 8, Walter Bloomberg, Deputy Governor of the Bank of Canada, emphasized that if cryptocurrency is accepted as a form of payment, Canada needs to consider enacting new regulations. This is to ensure that there are appropriate safeguards in place as cryptocurrency becomes part of the national financial system.
Cryptocurrency, with its decentralized mechanism and high volatility, carries many opportunities and risks. Bloomberg sees the necessity of establishing a legal framework to not only protect consumers but also maintain financial stability.
Bloomberg's message is not intended as investment advice but focuses solely on providing market information. This underscores the importance of understanding the risks and opportunities before getting involved in the cryptocurrency space.
Source: https://tintucbitcoin.com/pho-thong-doc-ngan-hang-canada-tien-dien-tu-can-luat-moi/
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