The newly elected leader of the Conservative Party of Canada has previously supported decentralized finance, smart contracts, and cryptocurrency tokens as means of achieving financial freedom.
The Conservative Party of Canada, led by prominent cryptocurrency advocate Pierre Poilievre, is poised to challenge the incumbent government in the upcoming federal election.
According to reports, the pro-crypto politician won the leadership of the Conservative Party of Canada by a landslide on Saturday, garnering 68.15% of the electoral points available and easily defeating his closest rival Jean Charest, who only garnered 16.07% of the vote.
Poilievre joined the Conservative Party in 2003 and was first elected to office in the 2004 election. Since then, he has held a number of positions, including Shadow Minister of Finance and Minister of Employment and Social Development, throughout his seven stints as a member of parliament.
Poilievre has a reputation for supporting cryptocurrencies and promoting decentralized finance, smart contracts, and tokens as means of enhancing financial freedom.
Canadians may finally be able to elect a pro-crypto leader in the country’s 45th prime ministerial election, which is scheduled to take place on or around October 20, 2025 with his most recent appointment.
Poilievre encouraged the Canadian people to elect him as their leader earlier this year in an effort to “make Canada the blockchain capital of the globe.”
In a video broadcast in March by the YouTube channel BITCOIN, Poilievre, who was running for mayor, was heard saying, “We must keep cryptocurrencies legal,” while discussing his support for cryptocurrencies.
“People should have the freedom to choose other money. If the government is going to abuse our cash, we should have the freedom to use other, higher quality cash.”
He also briefly discussed strategies for streamlining cryptocurrency taxes, laws, and regulations so that there would be a uniform legal framework across Canada. He used the Lightning Network to purchase chicken shawarma in the same video.
If his party manages to topple the Liberals, who are now in power under Prime Minister Justin Trudeau, Poilievre has provided very little detail on how his party would accomplish the regulation and adoption of cryptocurrency.
While Trudeau’s Liberal government has a minority government with 160 seats in the House of Commons, the Conservative Party of Canada now owns 16 out of 105 Senate seats and 119 out of 338 seats in the House of Commons. The House of Commons must have at least 170 seats in order to elect a majority administration.
In 2014, the Canadian Parliament established a national law governing digital currencies, marking the country’s entry into the global market for digital assets. In August of this year, the Canadian Regulatory Council also introduced a new pre-registration file for cryptocurrency platforms.
According to the Bank of Canada Financial System Review published in June 2022, just a small portion of Canadians already own Bitcoin; 13% of Canadians had some in 2021, up from 5% in 2020.