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Bank of Canada Backs Stablecoins, Criticizes Bitcoin

12/18/2025

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Summary

Story summary

Tiff Macklem, Governor of the Bank of Canada, said stablecoins could be “good money” and spur digital currency innovation.
He criticized bitcoin as a poor store of value and said asset-backed stablecoins could meet standards.
He said stablecoins must be fully backed and governed by clear rules, and the bank will regulate this landscape.

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Story summary

Tiff Macklem, Governor of the Bank of Canada, said stablecoins could be “good money” and spur digital currency innovation.
He criticized bitcoin as a poor store of value and said asset-backed stablecoins could meet standards.
He said stablecoins must be fully backed and governed by clear rules, and the bank will regulate this landscape.