By Canadian Press

Respondents to BoC questionnaire largely oppose creating a digital Canadian dollar

Nov 29, 2023 | 8:28 AM

OTTAWA — The Bank of Canada’s public consultations on the creation of a digital Canadian dollar reveal most respondents are opposed to it.  

The central bank released its findings today, which show that more than 80 per cent of respondents strongly oppose the Bank of Canada researching and building the capability to issue a digital dollar.  

The vast majority of respondents also say they do not trust the Bank of Canada to issue a secure digital currency.

Among the top concerns of respondents was privacy, with the questionnaire revealing low levels of trust in institutions to protect their personal data.

The Bank of Canada notes the findings do not necessarily reflect the views of the overall public because participants self-selected to respond to the questionnaire.

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While the public consultations aimed to gauge interest in a digital currency, the central bank says the decision to create a digital dollar is for Parliament to make.  

This report by The Canadian Press was first published Nov. 29, 2023.

The Canadian Press