YEREVAN (CoinChapter.com) — Canada’s Prime Minister Justin Trudeau announced his resignation as leader of the Liberal Party on Jan. 6, 2025, stating he will remain in office until a successor is chosen. This decision comes amid internal party conflict and declining support for his government. Trudeau’s handling of the country’s deficit, coupled with anticipated tariffs from the incoming U.S. administration, has fueled political tensions. Parliament is currently prorogued until March 24, with the Liberal Party expected to elect a new leader before then.
Justin Trudeau Resignation Speech. Source: X
The resignation has shifted the political spotlight to the next federal election, scheduled no later than Oct. 20, 2025. Opposition leader Pierre Poilievre, along with other potential candidates from the Liberal Party, now dominate conversations about Canada’s future direction.
Who Are Canada’s Key Candidates to Replace Trudeau?
Trudeau’s departure has sparked debate about potential successors within the Liberal Party and heightened attention on the opposition. While Pierre Poilievre leads the polls, several Liberal contenders, including Chrystia Freeland, Mark Carney, and Dominic LeBlanc, are seen as possible candidates.
Canada Election Poll Tracker January 2025. Source: cbc Pierre Poilievre: The Pro-Crypto Frontrunner
Pierre Poilievre, the leader of the Conservative Party, has gained significant attention for his stance on cryptocurrency and monetary policies. During his 2022 campaign, he vowed to make Canada a global leader in blockchain and crypto technology. Poilievre even used Bitcoin to purchase a chicken shawarma during a campaign event, symbolizing his support for decentralized finance.
Pierre Poilievre Bitcoin Shawarma Purchase. Source: X
In several public statements, Poilievre criticized Canada’s central banking system, calling the Bank of Canada “financially illiterate.” He opposes the introduction of a central bank digital currency (CBDC) and has backed legislation to ban its implementation, advocating for the continued use of cash. Poilievre has described Bitcoin as a tool to help Canadians “opt-out” of inflation, reflecting his broader criticism of traditional financial systems.
Pierre Poilievre Bitcoin Speech at Tahini’s. Source: X
A CBC poll in early January 2025 revealed that the Conservative Party, under Poilievre’s leadership, is 24 percentage points ahead of the ruling Liberals.
In May 2022, CTV News revealed that Pierre Poilievre’s asset disclosure forms indicated he owned shares in the Purpose Bitcoin exchange-traded fund (ETF), a locally managed spot Bitcoin ETF. However, by November 2023, these holdings were reportedly no longer listed.
Chrystia Freeland: Liberal Veteran with No Clear Crypto Stance
Chrystia Freeland, the former Deputy Prime Minister and Finance Minister, is one of the leading contenders to succeed Trudeau. Freeland has played a key role in shaping Canada’s economic policies, focusing on traditional fiscal measures rather than blockchain or cryptocurrency.
Chrystia Freeland. Source: Blair Gable/Reuters While Freeland has not made any significant public statements regarding cryptocurrency, her cautious approach to financial innovation suggests she may prioritize regulatory oversight over adopting pro-crypto policies. Her background as a journalist and author of books on income inequality and global economics reflects her focus on broader economic issues.
Freeland’s support within the Liberal Party has grown since her resignation from cabinet in December 2024. According to the Nanos numbers, support for Freeland as Trudeau’s replacement is up to 19 per cent now, from 11 per cent last November.
Moreover, a deepfake video falsely showing Chrystia Freeland promoting a fraudulent investment platform circulated online, sparking a fake scandal. Authorities confirmed the video was AI-generated and urged Canadians to remain cautious of such deceptive content.
Mark Carney: Central Banker Skeptical of Cryptocurrency
Mark Carney, a former Governor of the Bank of Canada and the Bank of England, is another prominent contender for Liberal leadership. Carney has consistently expressed skepticism about cryptocurrencies, describing Bitcoin as a speculative asset. He has raised concerns about the volatility and lack of intrinsic value associated with digital currencies.
Carney’s background in traditional finance aligns with his cautious approach to cryptocurrency. During his tenure as a central banker, he emphasized the importance of regulated financial systems. In 2021, Carney warned against the risks posed by unregulated crypto markets, highlighting the need for stronger oversight.
Despite his cautious stance, Carney has supported discussions about stablecoins and their potential to provide financial inclusion if properly regulated.
“I do think that we will have central bank digital currencies at the core of the system. I think it’s possible and perhaps desirable that we’ll have some native currencies that help facilitate smart contracts in wholesale markets, some of them in carbon markets even potentially. So there’s innovation there,”
Carney said.
Dominic LeBlanc: A Trudeau Ally with No Public Crypto Position
Dominic LeBlanc, a long-time cabinet minister and close friend of Trudeau, is also considered a potential Liberal leader. LeBlanc has held several senior roles, including Minister of Public Safety and Minister of Intergovernmental Affairs. He recently took over the finance portfolio following Freeland’s resignation.
Dominic LeBlanc, Minister of Finance, Public Safety and Intergovernmental Affairs, participates in a news conference after a swearing in ceremony at Rideau Hall in Ottawa on Dec. 16, 2024. Photo by Justin Tang/The Canadian Press
LeBlanc has not made any public statements regarding cryptocurrency or blockchain technology. His policy priorities have largely focused on economic development and intergovernmental relations. As a trusted ally of Trudeau, LeBlanc’s leadership may continue the Liberal Party’s current approach to economic policy, with limited emphasis on digital assets.
Other Potential Liberal Contenders
Several other Liberal politicians, including François-Philippe Champagne, Mélanie Joly, and Anita Anand, are viewed as possible candidates for leadership. However, none of them have taken clear positions on cryptocurrency or blockchain technology.
François-Philippe Champagne
François-Philippe Champagne, first elected in 2015, has held key cabinet roles, including foreign affairs and international trade, and is currently the minister for innovation, science, and industry. He praised Justin Trudeau’s service but has not announced any leadership plans. According to a Nanos poll, 4% of Canadians see him as the best option to replace Trudeau.
François-Philippe Champagne – Minister of Foreign Affairs, Government of Canada
Melanie Joly
Melanie Joly, elected in 2015, currently serves as Foreign Affairs Minister and has held three other cabinet roles. While she has not confirmed leadership ambitions, she did not deny interest when asked, following a New York Times profile naming her a “possible successor” to Trudeau. A Nanos poll shows 4% of Canadians support her as the next Liberal leader.
Heritage Minister Mélanie Joly is tasked with hosting the 365-day sesquicentennial fête. P&I photograph by Jake Wright. Photo: Jake Wright Anita Anand
Anita Anand, the newly appointed Minister of Transport and Internal Trade, has quickly risen in Trudeau’s cabinet since being elected as MP for Oakville in 2019. She has held multiple key portfolios, including public services, national defence, and treasury board president. Although she has not announced leadership plans, a Nanos poll shows 2% of Canadians find her the most appealing candidate to lead the Liberals.
Anita Anand is the current Minister of Transport and Internal Trade in Canada
Canada’s 2025 Federal Election: A Pivotal Choice Between Crypto-Friendly Policies and Traditional Leadership
The next federal election will determine whether Canada adopts a more crypto-friendly approach under Poilievre or continues with the Liberal Party’s more cautious policies. With Trudeau stepping down, the political landscape is primed for change.
The 2025 Canadian federal election will select members of the House of Commons for the 45th Canadian Parliament under new 343-seat electoral boundaries based on the 2021 census. The prime minister can call for a snap election, or a confidence vote can trigger an early election, especially during minority governments.
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