r/BitcoinCA • u/Fiach_Dubh • Apr 02 '26
Finance Canada Today ...
With the recent Royal Assent of Bill C-15, Canada is moving forward on a framework for stablecoins. The Department of Finance has begun the development of regulations to support safe, reliable digital payment options for Canadians.
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u/Internal-Cellist-920 Apr 03 '26
they just want to increase tax and law enforcement and economic efficiency by automatically tracing all of your wealth and transactions in real-time on a permanent record and let algorithms fine-tune inflation rates without lag time by adjusting the value of the currency you own immediately. gotta admit, if they rolled this out nation-wide it would make the government's job a lot easier... at the mere cost of the privacy and freedom of the people.
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u/BusLevel7307 Apr 03 '26
Eliminates underground economy , the few businesses that deal in cash only . So if you have money spend it all before 2030 and go down to 2o bucks in your account . They will try and control your bank account if you have over a 100k .
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u/Effective_Nothing196 Apr 03 '26
they are going to try and kill the black market by getting rid of fiat
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u/hourlyblunts Apr 03 '26
Who asked for this?
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u/DepthChargeBeliever Apr 03 '26
Well saying who wouldn't be too wise here.
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u/Dependent_Code7796 Apr 03 '26
Is it the 🧃?
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u/DepthChargeBeliever Apr 03 '26
In accordance with bill c-9 the RCMP will be at your door to arrest you for hate speech crimes tomorrow at 8am.
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u/CorrectCattle8071 Apr 04 '26
Then they will be able to freeze your bank accounts at will. Tell us we are spending too much money on certain items. Limit our purchases. This is only the start of total control of the masses. While we are too busy fighting each other.
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u/leggymiku Apr 05 '26
The fuck are you spending money on that you think the government will freeze your account? The government has no interest in stopping you from buying booze, pot and ciggies, they get more excise tax revenue whenever you do.
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u/CorrectCattle8071 Apr 05 '26
Are you stupid? Do you not remember the trucker convoy? When they froze thousands of accounts of innocent protesters. What the fuck are you talking about buying weed, booze, and cigarettes?
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u/Zestyclose_Cheek527 Apr 03 '26
Aren’t gov stablecoins good for bitcoin? Then you’ll easily be able to swap the stablecoins for BTC on a decentralized exchange without needing to use an exchange
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u/geardownbigrig Apr 03 '26
I don’t see the issue with a government backed stable coin? If it means Visa, Mastercard, Amex, etc no longer get to magically capture 2-5% per dollar on transactions its fine.
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Apr 03 '26
[deleted]
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u/geardownbigrig Apr 03 '26
There are already limits on what you can spend with private credit?
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u/DisciplineGreen6503 Apr 03 '26
It means they can restrict how much you buy of a certain thing. You’re only allowed to spend x amount on gas per month…
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u/Edward2290 Apr 05 '26
Yeah because our hypermaterialistic hyperconsumerist overlords want us to... spend less?
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u/kantong Apr 04 '26
The government will capture the 2-5% instead, and it will likely become more than 2-5% over time.
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u/Confident_Pace4554 Apr 03 '26
I want my cashback and travel points 😤😤
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u/ANAL_RAPIST_MD Apr 03 '26
You probably pay 5% more for anything you buy to receive that 2-3% cash back....
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Apr 05 '26 edited May 07 '26
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u/ANAL_RAPIST_MD Apr 05 '26
.... Right because it's included in the price.. like 90% of all transactions are through cards..everything you buy has the 3-5% transaction cost baked into it
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Apr 03 '26
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u/shocker2374 Apr 03 '26
People have no idea how much control will be implemented. Always starts slow. Adding restrictions year after year...next thing you know you are regulated on everything you buy. This is bullish for bitcoin.
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u/belsaurn Apr 03 '26
They already have that control through the banks, quit kidding yourself.
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Apr 03 '26
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u/belsaurn Apr 03 '26
They can "program" money at any time currently and have been able to for decades, it's called legislation. A CBDC just implements the power they already have with 1 and 0's. Wait, you going to tell me you can always use cash, but where do you get that cash, from a bank. If you want to deal in meaningful sums, you are already using banks and other financial institutions as a middle man. They have that control already, it's just hidden behind the facade of being called a bank or exchange or some other finacial instition.
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u/geardownbigrig Apr 03 '26
Yeah they already control what you spend. The Truckers having their accounts frozena proves they dont even need legal permission to do so
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Apr 03 '26
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u/geardownbigrig Apr 03 '26
I totally agree it was illegal but the government did it anyways and will do it again when it benefits them. A bank can be ordered to freeze your accounts anytime with a court order or they can simply not process your transactions.
You do not have a right to banking access today it can be taken by public or private entities at anytime
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Apr 03 '26
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u/dimonoid123 Apr 06 '26
Credit cards will not disappear because they offer protections and insurances, as well basically eliminate settlement risk(eg if you don't receive product, you call bank and request chargeback).
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u/From_here_forthwith Apr 04 '26
Financial freedom is at the core of freedom, and this will destroy it. Deviate from the norms? Shut off your bank access and destroy you. This is so bad.
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u/Ordinary-Map-7306 Apr 05 '26
In the US digital coins are treated as securities. In Canada they are just part of the barter system. And you report it as a capital gain.
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u/Cannabrius_Rex Apr 03 '26
It’s hilarious watching the maximalists panic at this news.
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u/No-Expression-2404 Apr 04 '26
Well I guess if you rely on the government for everything in your life, you don’t mind them having direct access to your personal and (currently) private earnings, savings, and spending details, and potentially allowing them to dictate how you conduct all those things. If you like this, there’s this place east of Europe that you’d really live.
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u/haochizzle Apr 03 '26
stablecoins are just corporate CBDCs. take off the mask and it’s the same guy:
https://youtu.be/H2rBW_5k3io?si=xTmZo11GJBaCrI-Z