My conversation with Ron Morrow
We talk to Ron Morrow, the Bank of Canada's executive director of retail payments supervision, about the Bank's new regulatory mandate over tech companies in payments
As boring as it usually is, payments recently made the news for all the wrong reasons. A trucker convoy in Ottawa. War in Europe. The big crypto and stablecoin meltdown.
For better or worse, the movement of money is going to be subject to more government oversight in Canada. In 2021, the government passed the Retail Payment Activities Act, which is going to regulate tech companies in payments. And the Bank of Canada is going to be the regulator.
In this conversation, Ron says a lot to the careful listener—intentionally, but perhaps unintentionally every now and again. We talked about:
The Retail Payment Activities Act and what it means for Canada
The possibility that the Retail Payment Activities Act may one day apply to crypto companies and stablecoin issuers
Whether the Bank of Canada was the right pick for the job as regulator of tech companies in payments
And the risk that Pierre Poilievre is going to fire Ron Morrow
What did you find most interesting about the conversation? Let me know by email or in the comments.