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Government must enter the money game: a Canadian central bank digital currency [Globe and Mail, The (Toronto, Canada)]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
Keito Newman/The Globe and Mail Ottawa's new framework for regulating stablecoins has cryptocurrency advocates celebrating. The government's move comes after the United States passed the GENIUS Act, raising concerns that Canada might fall behind in the digital currency race. But Ottawa missed a much better opportunity: introducing a central bank digital currency that would make Canada's banking system more inclusive, stable and efficient. Yet the Bank of Canada has shelved plans for a CBDC, likely under pressure from banking institutions worried about their profit margins. Given that nearly 90 per cent of transactions already happen electronically through e-transfers, credit cards and debit cards, why bother with stablecoins? Ottawa's new stablecoin framework a key step toward monetary sovereignty, advocates say The answer lies in efficiency. Stablecoin transactions don't need to pass through multiple domestic and foreign institutions before settlement, enabling faster pro Show less Read more
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