Crypto creates no big risk to economy so far according to Bank of Canada official

  • Cryptocurrencies like Bitcoin do not pose any significant risk to the financial system at their current level of adoption, according to Bank of Canada deputy governor Paul Beaudry.
  • Canada has also been a popular spot for global crypto miners, ranking the fourth-largest nation in terms of hash rate according to Cambridge Bitcoin Electricity Consumption Index as of August 2021.
  • Despite progressive crypto development and adoption, the Bank of Canada has expressed some skepticism about crypto before.


Sign Up for nextbigwhat newsletter

The smartest newsletter, partly written by AI.

Download, the short news app for busy professionals