Finding the Balance: Driving Crypto Innovation While Protecting Consumers

Sasha Krstic: Over the past few years, cryptocurrency has become increasingly popular, with many people investing in Bitcoin, Ether, and other digital currencies. Whatever your opinion is on cryptocurrency, the fact remains that these digital assets are becoming a more important part of our digital world.

Despite some concerns about the volatility and potential risks regarding its value, many see cryptocurrency as a promising investment opportunity. Its role in the digital economy is expected to grow in the coming years.

Mastercard’s 2022 Global New Payments Index found that in North America, 34% of consumers have or would consider buying cryptocurrency. What are some of the social and economic benefits you see blockchain and cryptocurrency bringing to Canadians?

Morva Rohani: Around 3% of Canadians or close to a million people are actually unbanked, and 15% are underbanked. Efficiencies in payments and creating access to financial services are definitely areas where there is a lot of opportunity because cryptocurrencies allow for low-cost, nearly instantaneous, and borderless peer-to-peer transfers of actual value. This opens up extraordinary opportunities for innovations in payments.