Bank of Canada's CBDC Initiative Faces Negative Public Sentiment

Bank of Canada's CBDC Initiative Faces Negative Public Sentiment



A recent public consultation regarding Canada's central bank digital currency (CBDC) initiative has revealed that Canadians generally have a negative outlook on it, which aligns with the concerns expressed by the Bank of Canada about its nationwide adoption.



The Canadian central bank initiated the 'digital Canadian dollar public consultation' with the aim of finding a role for CBDCs in a digital payment landscape dominated by methods like credit cards. However, after collecting 89,423 responses in a survey, it became evident that Canadians are calling for regulations that would make it mandatory for businesses to accept physical cash as a valid payment method.



According to the Bank of Canada's report, nearly 95% of respondents had either heard of or were familiar with the concept of a digital Canadian dollar. While awareness is


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