Post by
Dibah420 on Apr 08, 2022 10:41am
Rip van Winkle awakens..
but oh so slowly.
ed to avoid global sanctions and fund illegal activities. Budget 2022 includes measures that will help maintain the integrity of the financial system, promote fair competition, and protect both the finances of Canadians and our national security. Budget 2022 announces the government’s intention to launch a financial sector legislative review focused on the digitalization of money and maintaining financial sector stability and security. The first phase of the review will be directed at digital currencies, including cryptocurrencies and stablecoins. Budget 2022 also proposes $17.7 million over five years, starting in 2022-23, to the Department of Finance to lead the review. The review will examine, among other factors: how to adapt the financial sector regulatory framework and toolbox to manage new digitalization risks; how to maintain the security and stability of the financial system in light of these evolving business models and technological capabilities; and the potential need for a central bank digital currency in Canada. Separately, the government is investing in the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and will develop legislative proposals to strengthen the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, the Criminal Code, and other legislation, to investigate and prosecute financial crimes, manage emerging threats, such as those posed by the digitalization of money, and ensure the government has the tools necessary to preserve financial integrity and economic security in Canada.
Comment by
Dibah420 on Apr 08, 2022 10:51am
The Department of Finance is a huge bureaucracy employing thousands..mostly very well paying jobs. Do they really need an EXTRA $17.7 million dollars and FIVE years to "lead a review" into what is patently a gigantic PONZI threatening our fiat currency? Gimmeabreak!