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Canada's New PM Mark Carney: Pro-CBDC, Anti-Decentralization

March 26, 2025 - In a surprise move, Canada's newly appointed Prime Minister Mark Carney has revealed his stance on central bank digital currencies (CBDCs) and decentralization, sending shockwaves through the financial and cryptocurrency communities.

According to sources close to the Prime Minister's office, Carney has expressed strong support for the development and implementation of CBDCs, which are digital versions of fiat currencies issued and regulated by central banks.

Carney's pro-CBDC stance is seen as a significant departure from the previous government's cautious approach to the technology. The former Governor of the Bank of Canada, Carney has long been an advocate for the potential benefits of CBDCs, including increased financial inclusion, improved monetary policy effectiveness, and enhanced financial stability.

However, Carney's views on decentralization have raised eyebrows. According to insiders, the Prime Minister is skeptical of decentralized financial systems, such as decentralized exchanges (DEXs) and decentralized lending platforms. Carney has reportedly expressed concerns that these systems can be vulnerable to regulatory arbitrage and pose risks to financial stability.

The Prime Minister's anti-decentralization stance has sparked debate among cryptocurrency enthusiasts and advocates for decentralized finance (DeFi). Some have criticized Carney's views as overly restrictive and dismissive of the potential benefits of decentralized systems.

"Mark Carney's comments are a step backward for financial innovation and a blow to the DeFi community," said a spokesperson for the Canadian Blockchain Association. "Decentralized systems offer greater transparency, security, and accessibility than traditional financial institutions. We urge the Prime Minister to reconsider his stance and support the development of a more inclusive and innovative financial ecosystem."

The Canadian government has yet to announce a formal policy on CBDCs or decentralization. However, Carney's comments have set the tone for a more active role for the government in shaping the country's digital financial landscape.

As the Prime Minister's office continues to develop its policy on CBDCs and decentralization, the financial and cryptocurrency communities will be closely watching Canada's next moves. Will Carney's pro-CBDC and anti-decentralization stance pave the way for a more centralized and controlled financial system, or will it lead to a more inclusive and innovative approach to digital finance? Only time will tell.