Carney Warns of Economic War Between Canada and US

Former Bank of Canada governor Mark Carney has labeled the ongoing trade tensions between Canada and the US as an 'economic war'. Speaking on Parliament Hill, he stated that it is clear this is a new attack by the Americans on Canada.

The escalating situation could lead to increased macro volatility and heightened regulatory scrutiny for crypto markets and centralized exchanges (CEXs). This may also complicate decentralized finance (DeFi) adoption and cross-border fundraising efforts.

While Carney notes that this may drive short-term safe-haven flows, he believes the overall impact will be downside risk to both adoption and pricing.