"The Impact of Virtual Assets Was Minimal"...Liberal Party Wins Canadian General Election

On this day, the early general election held in Canada is seeing the Liberal Party's victory as virtually certain. As Pierre Poilievre, the leader of the opposition Conservative Party, who was expected to take a crypto-friendly stance, faces defeat, opinions are emerging that the impact of virtual assets in the Canadian general election was minimal.

According to Canadian local media CBC on the 29th (local time), the Liberal Party secured seats in 166 constituencies out of the total 343 seats in the House of Commons. They are followed by the Conservative Party (149 seats), Bloc Québécois (21 seats), and the New Democratic Party (7 seats). Canada adopts a parliamentary cabinet system where the prime minister of the majority party becomes the national prime minister.

Until last January, the Conservative Party was expected to have an advantage in Canada's early general election. This was because Justin Trudeau, the Prime Minister from the Liberal Party, who had been in power for the past nine years, was replaced due to responsibility for the economic recession.

However, it is analyzed that the situation changed rapidly after the inauguration of U.S. President Donald Trump. As President Trump imposed high tariffs on Canada and made gaffes such as suggesting Canada become the 51st state of the U.S., anti-American sentiment was maximized within Canada. The Liberal Party, led by Prime Minister Mark Carney, expressed its intention to respond to President Trump, which led to a surge in support.

Meanwhile, the virtual asset specialized media CoinDesk evaluated that unlike the U.S. presidential election, where virtual assets exerted significant influence, their impact in Canada seems minimal.