on November 8, Bank of Canada Governor Tiff Macklem reiterated the view that Bitcoin should not be classified as a currency: Bitcoin is not a digital currency, people aren't buying things with it. Our paper money is not going away, at least not while I'm governor. At the same time, the economy is indeed becoming more digital, and the epidemic has accelerated that trend. He stressed the need for international cooperation before cryptocurrencies can be used to support large-scale transfers. As previously reported, the Bank of Canada said it has no intention of issuing CBDCs anytime soon, but the situation could change if cash usage continues to decline.
