Canadian Bankers Association On Bitcoin: "We're Not For It Or Against It"

Terry Campbell, president of the Canadian Bankers Association shared his views on what he thinks Bitcoin is and is not in a short interview with the Edmonton Journal. The CBA represents 60 domestic banks as well as foreign bank subsidiaries/branches operating in Canada.

Asked what the CBA's positon on Bitcoin is, Campbell states:

"We don't have a formal position on Bitcoin per se, except to make clear to consumers that it is not currency and it is not issued by a regulated financial institution with all the protections. We're not for it or against it, but people need to be aware that it is not currency. It's more akin, quite frankly, to a commodity or to an investment."

Campbell also shared his concerns regarding companies such as PayPal, which he claims is unregulated. Stating that walking corpse poses a challenge for regulators and public policy makers, Campbell is either trying to contend with or promote PayPal while ignoring that Bitcoin already killed it.

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