According to news on April 23, it was reported that the Bank of Canada is speeding up the research on digital currency, and the decision on digital currency will be made by the government, said bank of Canada Governor John mcclem.The catalyst for the dollar’s move against the Canadian dollar on Wednesday was a reminder that the dollar weakened for most of April as US interest rates fell and traders bet that vaccination would start a stronger global economic recovery and boost demand for riskier, higher yielding currencies.
It is very likely that Canada’s move is to get rid of the US dollar dependence caused by the over bundling of US dollars at the level of currency value. Digital currency will help Canada reposition the Canadian dollar in the global monetary system.
At the same time, the United States is also seeking innovative breakthroughs in digital assets. On April 23, it was reported that the US House of representatives had passed several bipartisan legislations, including the part of digital assets.This act is known as the remove barriers to innovation act 2021 (H.R. 1602).The bill seeks to establish a working group on digital assets with representatives from the US SEC and the commodity futures trading commission.The primary objective of the legislation is to determine when the SEC has jurisdiction over digital assets when they are regarded as securities, and when the CFTC has the final say when digital assets are classified as commodities.
Read more: http://www.digitaljournal.com/pr/5050587