Canada is one of the countries most strict in dealing with cryptocurrencies within the country, as the government of “Justin Trudeau” took measures against these currencies in response to the Freedom Convoy protests that took place in Ontario. Canadian officials froze the bank accounts of the protesters and tried to block all donations to the truck drivers, including those provided in cryptocurrencies.

However, the future of currencies in Canada seems poised for a change in policy, as the Canadian Conservative Party candidate for Prime Minister, Pierre Poilievre, stated the need to support allowing Canadians to use Bitcoin (BTC) as legal tender in the country.

The Bitcoin channel on YouTube published a video on March 29 of Pierre Poilievre saying that the people of Canada need “more financial freedom” in front of a crowd of about 100 people at a local restaurant, adding: “This includes the freedom to own and use cryptocurrencies, tokens, smart contracts, and decentralized finance… People should have the freedom to choose other money. And if the government is going to abuse our money, we should have the freedom to use other high-quality money.”

Canadian Blockchain Coalition (CBC) Executive Director Koulia Karingten told Cointelegraph: “It’s a hostile environment from the Liberal government towards cryptocurrencies,” which happens “due to lack of knowledge, understanding, and regulatory clarity… It is important to have a strong supportive stance to educate the government about blockchain. Once they see the level of tax revenues, they will know that this is not an industry for criminals, it is an industry for innovation.”

Karingten believes there are now more cryptocurrency holders following the complications caused by Prime Minister Trudeau’s invocation of the Emergency Act in February. The non-profit organization “Catalist” said on February 23 that those complications might resemble banking flows.

Despite his enthusiasm, Poilievre’s support for cryptocurrencies may still resonate with only a small group of Canadians.

Last October, the research company Ipsos identified that only about 14% of Canadian citizens over 18 years old own cryptocurrency. However, this number has risen from only 3% in 2016, indicating a tremendous growth rate.

Adoption prospects look bright, as Ipsos also found that about 25% of Canadian adults are considering buying cryptocurrencies in the future. This sentiment aligns with a study published by Cointelegraph in January, which concluded that among 1,000 Canadian respondents, 62% would be interested in receiving their salaries in cryptocurrencies by 2027.

Karingten shares optimistic expectations regarding Canada's cryptocurrency adoption. She said there has been “a huge increase” in the amount of interest expressed by residents of Alberta, where the CBC network operates. She added:

“Banks can no longer ignore it. Politicians can no longer ignore it. They have all started asking, ‘How can we adopt it?’”