Will Canada Elect a Trump-Like Pro Crypto Head?

YEREVAN (CoinChapter.com) —  Canada’s Prime Minister Justin Trudeau announced his resignation as leader of the Liberal Party on Jan. 6, 2025, stating he will remain in office until a successor is chosen. This decision comes amid internal party conflict and declining support for his government. Trudeau’s handling of the country’s deficit, coupled with anticipated tariffs from the incoming U.S. administration, has fueled political tensions. Parliament is currently prorogued until March 24, with the Liberal Party expected to elect a new leader before then.

The resignation has shifted the political spotlight to the next federal election, scheduled no later than Oct. 20, 2025. Opposition leader Pierre Poilievre, along with other potential candidates from the Liberal Party, now dominate conversations about Canada’s future direction.

Who Are Canada’s Key Candidates to Replace Trudeau?

Trudeau’s departure has sparked debate about potential successors within the Liberal Party and heightened attention on the opposition. While Pierre Poilievre leads the polls, several Liberal contenders, including Chrystia Freeland, Mark Carney, and Dominic LeBlanc, are seen as possible candidates.

Pierre Poilievre: The Pro-Crypto Frontrunner

Pierre Poilievre, the leader of the Conservative Party, has gained significant attention for his stance on cryptocurrency and monetary policies. During his 2022 campaign, he vowed to make Canada a global leader in blockchain and crypto technology. Poilievre even used Bitcoin to purchase a chicken shawarma during a campaign event, symbolizing his support for decentralized finance.

In several public statements, Poilievre criticized Canada’s central banking system, calling the Bank of Canada “financially illiterate.” He opposes the introduction of a central bank digital currency (CBDC) and has backed legislation to ban its implementation, advocating for the continued use of cash. Poilievre has described Bitcoin as a tool to help Canadians “opt-out” of inflation, reflecting his broader criticism of traditional financial systems.

A CBC poll in early January 2025 revealed that the Conservative Party, under Poilievre’s leadership, is 24 percentage points ahead of the ruling Liberals.

Chrystia Freeland: Liberal Veteran with No Clear Crypto Stance

Chrystia Freeland, the former Deputy Prime Minister and Finance Minister, is one of the leading contenders to succeed Trudeau. Freeland has played a key role in shaping Canada’s economic policies, focusing on traditional fiscal measures rather than blockchain or cryptocurrency.

Chrystia Freeland. Source: Blair Gable/ReutersWhile Freeland has not made any significant public statements regarding cryptocurrency, her cautious approach to financial innovation suggests she may prioritize regulatory oversight over adopting pro-crypto policies. Her background as a journalist and author of books on income inequality and global economics reflects her focus on broader economic issues.

Freeland’s support within the Liberal Party has grown since her resignation from cabinet in December 2024. According to the Nanos numbers, support for Freeland as Trudeau’s replacement is up to 19 per cent now, from 11 per cent last November.

Mark Carney: Central Banker Skeptical of Cryptocurrency

Mark Carney, a former Governor of the Bank of Canada and the Bank of England, is another prominent contender for Liberal leadership. Carney has consistently expressed skepticism about cryptocurrencies, describing Bitcoin as a speculative asset. He has raised concerns about the volatility and lack of intrinsic value associated with digital currencies.

Carney’s background in traditional finance aligns with his cautious approach to cryptocurrency. During his tenure as a central banker, he emphasized the importance of regulated financial systems. In 2021, Carney warned against the risks posed by unregulated crypto markets, highlighting the need for stronger oversight.

Despite his cautious stance, Carney has supported discussions about stablecoins and their potential to provide financial inclusion if properly regulated.

“I do think that we will have central bank digital currencies at the core of the system. I think it’s possible and perhaps desirable that we’ll have some native currencies that help facilitate smart contracts in wholesale markets, some of them in carbon markets even potentially. So there’s innovation there,”

Carney said.

Dominic LeBlanc: A Trudeau Ally with No Public Crypto Position

Dominic LeBlanc, a long-time cabinet minister and close friend of Trudeau, is also considered a potential Liberal leader. LeBlanc has held several senior roles, including Minister of Public Safety and Minister of Intergovernmental Affairs. He recently took over the finance portfolio following Freeland’s resignation.

LeBlanc has not made any public statements regarding cryptocurrency or blockchain technology. His policy priorities have largely focused on economic development and intergovernmental relations. As a trusted ally of Trudeau, LeBlanc’s leadership may continue the Liberal Party’s current approach to economic policy, with limited emphasis on digital assets.

Other Potential Liberal Contenders

Several other Liberal politicians, including François-Philippe Champagne, Mélanie Joly, and Anita Anand, are viewed as possible candidates for leadership. However, none of them have taken clear positions on cryptocurrency or blockchain technology.

François-Philippe Champagne

François-Philippe Champagne, first elected in 2015, has held key cabinet roles, including foreign affairs and international trade, and is currently the minister for innovation, science, and industry. He praised Justin Trudeau’s service but has not announced any leadership plans. According to a Nanos poll, 4% of Canadians see him as the best option to replace Trudeau.

Canada’s 2025 Federal Election: A Pivotal Choice Between Crypto-Friendly Policies and Traditional Leadership

The next federal election will determine whether Canada adopts a more crypto-friendly approach under Poilievre or continues with the Liberal Party’s more cautious policies. With Trudeau stepping down, the political landscape is primed for change.

The post Will Canada Elect a Trump-Like Pro Crypto Head? appeared first on Coinchapter.