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.

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