Canada Needs a Loonie-Linked Digital Currency, Policy Experts Say

Canada Needs a Loonie-Linked Digital Currency, Policy Experts Say

Canada Needs a Loonie-Linked Digital Currency, Policy Experts Say - Oops!Something went wrong.Please try again later. - Oops!Something went wrong.Please try again later. 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 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. A stablecoin is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or …
More on: finance.yahoo.com