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Canada’s Prime Minister, Justin Trudeau, who has been historically anti-crypto, resigned today, citing "internal battles" in Canada's governing party.
What’s the Scoop?
- Political Fallout: Trudeau’s approval rating is at 22%, and polls suggest his Liberal Party would suffer a major defeat in a snap election, winning just 46 seats to the Conservative Party’s projected 225.
- Pro-Crypto Successor: Pierre Poilievre, expected to succeed Trudeau, is a vocal supporter of DeFi and crypto, championing
Bitcoin as a hedge against inflation.
Bankless Take
Trudeau’s resignation not only marks the end of his divisive tenure but signals a potential shift in Canada’s crypto policy landscape. While his administration adopted a cautious, and occasionally aggressive stance toward cryptocurrencies, Pierre Poilievre’s pro-crypto outlook could bring a stark contrast. If Poilevre does becomes his successor, Trudeau’s exit would further amplify the broader global trend of favor shifting towards forward-looking, pro-tech politicians, potentially positioning Canada for greater adoption and innovation under new leadership.
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