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C.D. Howe Institute Says Canada Needs a Loonie-Linked Digital Currency
Summary: The Bank of Canada should issue a central bank digital currency that can be converted into a “loonie,” the colloquial term of the Canadian dollar, as cryptocurrencies grow in popularity, a new report by policy think tank C.D. Howe Institute said. “Canadian-dollar-linked stablecoins could become attractive to Canadians by making them convertible into cash issued ...
The Bank of Canada should issue a central bank digital currency that can be converted into a “loonie,” the colloquial term of the Canadian dollar, as cryptocurrencies grow in popularity, a new report by policy think tank C.D. Howe Institute said.
“Canadian-dollar-linked stablecoins could become attractive to Canadians by making them convertible into cash issued by the Bank of Canada, and ensuring that stablecoins are well designed and regulated from business conduct, competitive, operational, privacy and prudential perspectives,” wrote Mark Zelmer and Jeremy Kronick, the authors of the report.
By Amy Liu
Tags: C.D. Howe Institute,Canada,Digital Currency
Link: C.D. Howe Institute Says Canada Needs a Loonie-Linked Digital Currency [Copy]
