A new round of development of the Canadian financial market. The Central Bank of Canada is exploring the possibility of creating its own digital currency. The paper published by the Bank of Canada's Office of Financial Institutions Management notes the main advantages and disadvantages of this step.

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The future issuance of government-backed cryptocurrency in Canada

A new round of development of the Canadian financial market. The Central Bank of Canada is exploring the possibility of creating its own digital currency.

The paper published by the Bank of Canada's Office of Financial Institutions Management notes the main advantages and disadvantages of this step. The authors of this report are Ben Fug, the director of the Bank of Canada, and Walter Angert, the former director of the Financial Institutions of Canada, currently the Senior Research Advisor of Payments Canada.

The report says, that the adoption of the new payment method will greatly simplify competition in the payments sphere, will make the storage of funds safer.

 

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