Bank of Canada Trademarks ‘Central Bank Digital Currency’ and ‘Digital Canadian Dollar’

The Bank of Canada has taken discreet measures to secure trademarks for terms related to digital currency, as reported by Blacklock’s Reporter. 

In filings made on December 13 and 19, the bank claimed ownership of phrases such as “digital dollar,” “digital Canadian dollar,” and “central bank digital currency” under the Trademarks Act, without providing a specific reason or holding a public hearing. 

Unlike other applicants, the bank did not serve public notice, making the move unconventional.

While the Bank of Canada acknowledged the uncertainty regarding the need for and timing of a digital dollar on November 29, it emphasized that the decision ultimately rests with Canadians and their representatives in Parliament. 

As recently as August, the bank released a report, “Unmet Payment Needs and a Central Bank Digital Currency,” that found that a government-issued digital currency was deemed unnecessary, with just 14% of Canadians going for cashless purchases.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Bank Of Canada: Economists See A Full-Point Rate Hike For July

Strategists at JPMorgan are seeing a full percentage point interest hike from the Bank of...

Monday, June 27, 2022, 04:31:00 PM

Bank of Canada Pledges to Keep Interest Rates Unchanged Until 2023, Will Continue with Current Pace of Bond Purchases

The Bank of Canada (BOC) has announced it will continue to hold interest rates steady...

Wednesday, September 9, 2020, 03:25:00 PM

Bank of Canada Corrects Major Data Error in Mortgage Origination Report

The Bank of Canada has issued a correction after discovering a significant error in its...

Wednesday, June 19, 2024, 10:40:00 AM

Tiff Macklem Is Ready to Hike Rates Again If Inflation Fails to Decline

Bank of Canada Governor Tiff Macklem is caught between a rock and a hard place...

Thursday, February 16, 2023, 01:52:55 PM

Bank Of Canada Aggressively Adding Provincial Bonds and Mortgages to their Balance Sheet

Last week the Bank of Canada announced sweeping new measures to add liquidity to the...

Friday, March 27, 2020, 04:30:12 PM