Canadian Prime Minister Justin Trudeau is reportedly likely to announce his intention to step down from his leadership of the Liberal Party as early as later today, according to the anonymous sources familiar with the matter who spoke with Reuters and The Globe and Mail.
This potential departure comes after a series of gloomy polls and increasing criticism from within his own party. The timing of Trudeau’s possible resignation is still unclear, with some sources suggesting he may step down as leader but remain as Prime Minister until a new Liberal leader is chosen.
Trudeau’s time as leader began in 2013 when the Liberal Party was struggling, but he led them to power in 2015 with a progressive agenda. However, the realities of governing, particularly dealing with the effects of the pandemic, have taken their toll, leading to public dissatisfaction over rising prices and a strained housing market due to immigration policies.
Amidst this backdrop, the rise of Conservative Party leader Pierre Poilievre presents a stark contrast. Poilievre has positioned himself as a vocal critic of the Bank of Canada and a staunch advocate for cryptocurrencies. He has stated that the government is ruining the Canadian dollar and Canadians should have the freedom to use other forms of money, including Bitcoin.
Poilievre has promised to make Canada the “Blockchain capital of the world” if he becomes Prime Minister, while also rejecting a China-style crackdown on crypto, and ensuring a regulatory framework to encourage blockchain companies to operate across Canada.
Trudeau has openly ridiculed Poilievre’s support for cryptocurrencies, arguing that investing in such volatile assets is not responsible and could lead to the destruction of people’s savings. Poilievre, on the other hand, believes that cryptocurrencies offer an alternative to the current financial system and the ability to opt out of inflation. He has also stated that he would end the proposed Canadian Central Bank Digital Currency. Poilievre’s financial disclosures have shown that he has holdings in a Canadian-based Bitcoin exchange-traded fund.
The next Canadian federal election is scheduled to take place on or before Oct. 20, 2025. If Trudeau does step down, the political landscape could change dramatically, potentially paving the way for a leader like Poilievre, whose pro-crypto stance could signal a significant shift in Canada’s approach to digital assets.
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