Mark Carney, known for championing economic stability and cautious policymaking, is expected to push for stricter oversight of private cryptocurrencies if he assumes leadership. As Pierre Poilievre advocates for a blockchain-driven economy and positions Canada as a hub for decentralized finance, Carney stands in firm opposition, repeatedly warning of crypto’s volatility and limited economic utility.
In a 2018 speech at the Bank of England, Carney famously criticized bitcoin as a “poor store of value,” citing its price instability and lack of widespread use as a medium of exchange. His concerns extend to stablecoins, which he argues could fragment monetary system liquidity and undermine fiat currency’s role in economic coordination.
Carney favors the development of Central Bank Digital Currencies (CBDCs), viewing them as a secure alternative that retains regulatory oversight while enabling digital innovation. He sees CBDCs as tools to strengthen inclusivity and curb economic fraud, offering digital advantages without the systemic risks of decentralized crypto assets.
While some crypto platforms like PolyMarket predicted his rise, and Stand With Crypto labeled him “somewhat pro-crypto” for recognizing blockchain’s potential, industry leaders remain wary. They fear Carney’s leadership could bring stringent regulations that stifle decentralized finance just as the U.S. expands its crypto agenda under Trump.
Carney insists the future lies in integrating digital assets into a regulated framework, stating, “Solutions must improve financial stability, while supporting more innovative and reliable payment services.”
Source: Swifteradio.com
