In a bombshell announcement, Canadian Prime Minister Justin Trudeau revealed he's stepping down after 11 years at the helm. With "internal battles" derailing his governance, Trudeau's exit could mark a pivotal moment for the future of digital assets in Canada.
Why This Matters for Crypto
Under Trudeau, crypto faced significant resistance. The 2022 Freedom Convoy protests saw the freezing of 34 crypto wallets, sparking global backlash and fueling concerns about government overreach. This incident became a rallying cry in the U.S., highlighting the dangers of Central Bank Digital Currencies (CBDCs) and excessive regulation.
But Trudeau's departure may open doors to a less crypto-resistant regime. The Conservative Party, led by Pierre Poilievre, currently enjoys a strong lead in polls ahead of the October general election. Poilievre, a former vocal crypto advocate, has garnered international attention, even among U.S. pro-crypto circles.
The Road Ahead
While Canada's provincial governments hold the reins on securities regulation, a pro-crypto prime minister could.