Policy Watch|Canada
Ottawa publishes draft stablecoin rules: Bank of Canada registration, 1:1 reserves, redemption in three days, no interest
Proposed Stablecoin Regulations in the Canada Gazette, Part I, on 24 October would bring the Stablecoin Act (royal assent March 2026) into force. Issuers would register with the Bank of Canada and hold reserves at least equal to outstanding coins at the end of each day, in high-quality liquid assets at a Canadian custodian. They would have to redeem within three business days with no minimum, cap redemption fees at 1%, and could not pay interest or yield for holding a coin. There are national-security reviews of applicants. Comments are open for 60 days.
Daily Teabag Desk·Centre