Get Newton
The Canadian crypto trading platform you can trust.
Sign up now
Cryptocurrency may not have been featured in any major party platform this election cycle, but past remarks from Liberal, Conservative and NDP leadership show the topic remains close to our political conversation.
Blockchain, the ledger created for cryptocurrencies, has since found potential applications in digital asset markets, supply chains, governance systems, and financial networks, despite risks like cybersecurity. Still, after a decade of development, adoption continues to face obstacles, including scalability issues, high implementation costs, and regulatory uncertainty.
While Canadians heading to the polls may not have crypto at the top of their minds, the future of blockchain could pivot based on today’s outcome. Political leadership ultimately defines Canada’s role in the future of digital innovation and, in particular, blockchain development.
A Bank of Canada (BOC) study conducted in 2023 found that Bitcoin ownership remains limited, used primarily for speculative purposes. Holders were typically younger, higher income, educated men, with a median investment of $500 CAD.
The Canada Strong Liberal platform outline details that a Mark Carney-led government will invest in digital infrastructure, citing supply chain, AI, data storage, computing facilities and high-speed secure communications networks. Notably, the platform omits blockchain but supports digital infrastructure, which could indirectly enable ledger-based supply chains if hurdles are overcome.
As former governor of the Bank of England (BoE) and the Bank of Canada (BoC), Carney has criticized Bitcoin, favouring a Central Bank Digital Currency (CBDC), arguing it offers stability and programmability. CBDCs are government-backed and central bank controlled digital currencies, distinct from permissionless decentralized cryptocurrencies. They remain controversial on the world stage due to privacy concerns.
Back in spring 2022, Poilievre, who was then a candidate but now leads the conservative party, expressed support for blockchain’s potential on X.
“Let’s make Canada the ‘blockchain capital of the world.’”
This vision reflected his advocacy for decentralized technologies at the time. Although the Conservatives’ 2025 platform does not guarantee specific policy outcomes, Poilievre’s blockchain support would align with his push for reduced government intervention.
CBDCs have been heavily debated because of the centralized issuers' ability to program spending or restrict users' transaction autonomy. In 2024, the Conservative Party, then led by Poilievre, circulated a petition to end the government's exploration of CBDCs and ban them altogether. His 2024 X post was accompanied by the caption:
“Ban central bank digital currency, protect your freedom to use cash, and get the government out of your wallet.” In 2024, the Bank of Canada governor Tiff Macklem indicated that the Bank of Canada was scaling down their CBDC work to focus on payment rails.
The NDP, led by Jagmeet Singh, also has not addressed blockchain or cryptocurrency in the current election platform, instead the party prioritizes immediate concerns such as housing and affordability.
Historically, Singh has criticized crypto’s volatility in 2022, stating, “We have a leader of the opposition who thinks he can magically opt out of inflation by buying cryptocurrency, which ended up tanking and hurting people”. This critique targeted Pierre Poilievre’s 2022 Bitcoin advocacy. Cryptocurrencies are prone to risks like volatility and regulatory shifts, as Singh noted in 2022.
Although electoral platforms have largely avoided direct references to cryptocurrency or blockchain, Canadian regulators began shaping the nation's digital asset framework in 2017, with 2025 updates further tightening crypto trading platform rules and requirements.
After the collapse of the TerraUSD (UST) stablecoin and its companion token LUNA in 2022, the Canadian Securities Administrators (CSA) introduced new restrictions requiring platforms to seek regulatory approval before offering them to investors. Broader guidance for stablecoin use is under development, with interim CSA restrictions in place.
A 2023 Nanos survey shows 60% of Canadians support government-industry collaboration on crypto regulations, reflecting a desire for balanced policies that encourage innovation and protect consumers.
As we await the 2025 election results, the next prime minister will shape Canada’s blockchain, stablecoin, and digital innovation policies. Based on historical stances, a Liberal victory could lead to tighter crypto regulations and a focus on non-blockchain development, while a Conservative government might support blockchain growth, though specific policies remain uncertain. For now, the future of Canada’s digital economy remains unwritten.
Explore Newton’s Educational Resources for more information on crypto regulations and digital asset practices.
