Canadian Prime Minister Justin Trudeau has hit out at Pierre Poilievre, a pro-crypto politician, who was elected leader of the Conservative Party of Canada.
Trudeau said in his speech, “telling people they can get out of inflation by investing their savings in volatile cryptocurrencies is not responsible leadership,” adding:
“What Canadians need is responsible leadership.”
Poilievre criticizes the Liberal government
Poilievre regularly denounced the Liberal government’s interference in people’s “personal affairs”, while supported anti-vaccination protests for truckers in Ottawa This year.
The call “freedom convoywas part of demonstrations by truckers protesting pandemic-related restrictions, maintaining closures for about three weeks in Canada.
Poilievre also promised to return financial decision-making to the Canadian people.blaming the institution for the high rate of inflation as part of its electoral strategy.
In the past, Poilievre has criticized the Trudeau administration for rising inflation, saying:
“The government is screwing up the Canadian dollar, so Canadians should be free to use other currencies, like Bitcoin.”
On the other hand, Trudeau think that Poilievre’s use of “buzzwords, whistles and reckless attacks” is unnecessary:
“We all have to work together. Now is not the time for politicians to exploit fears and pit people against each other. As everyone knows, the Conservative Party elected a new leader this weekend.”
During the protests, the prime minister also called the protests ‘illegal’ and ‘dangerous’before Canadian authorities cracked down on protesters’ cryptocurrency wallets being used to raise funds.
Meanwhile, the Tory leader promised that, sIf elected Prime Minister, he will ‘unleash’ the potential of cryptocurrencies and will make Canada “the world capital of block chain“.
Regulators will oversee cryptocurrencies
Obviously, his views contrast sharply with those of Trudeau, who ordered to freeze crypto assets under the Emergencies Act to end the protests.
The Canadian Superintendent of Financial Institutions recently stated that there will be a set of classification requirements for crypto assets under the new regulations and will establish restrictions on its use by banks and insurers.
Meanwhile, the Bank of Canada deemed cryptocurrencies to be a “speculative investment,” although previously he said cryptocurrencies “have no plausible claim to be the money of the future.”
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