Politics · Canada · 5 hrs ago
Canada proposes rules for stablecoins, opening 60-day consultation
Canada has published proposed rules for stablecoins, digital assets designed to keep a steady value, often by matching a currency such as the Canadian dollar.
The rules are part of the Stablecoin Act, which sets federal oversight through the Bank of Canada for stablecoins used across provincial or national borders.
The proposals would require issuers to meet rules on reserve assets and where they are held.
They would also bar issuers from presenting stablecoins as money or insured deposits, and from paying interest to holders.
The finance minister could assess applicants for national security risks, while the Bank of Canada would gain enforcement powers.
The proposals are open for a 60-day public consultation, after which the framework could move closer to taking effect.
Canada has published proposed regulations for stablecoins as part of the framework for its Stablecoin Act.
The proposals are open to a 60-day consultation.
The framework would set federal oversight through the Bank of Canada for stablecoins with interprovincial or international applications.
Proposed rules cover issuers’ reserve assets and prohibit marketing stablecoins as legal tender, bank deposits or publicly insured products.
The proposals would also prohibit issuers from paying interest to stablecoin holders.
- Who
- The Government of Canada proposed the regulations.
- What
- It published proposed stablecoin rules for a 60-day consultation as part of the Stablecoin Act framework.
- When
- Published Friday; the article was published on October 23, 2026. The consultation period is 60 days.
- Where
- Canada; the proposals were published in the Canada Gazette.
- Why
- To establish a regulatory framework for stablecoins in Canada with interprovincial or international applications.
This story does not have two clearly opposing sides.
Legislation to create Canada’s Stablecoin Act received royal assent.
The proposed regulations were published in the Canada Gazette.
The proposals entered a 60-day consultation period.
- Consultation period
- 60 days
- Federal oversight body
- Bank of Canada
- Publication venue
- Canada Gazette
- Stablecoin Act
- Legislation first received royal assent in March
- Reserve rules
- Proposed requirements cover issuers’ reserve assets and where they can be held
What people are saying
This guidance should give the industry more certainty and stronger protections for payment use cases.
At the same time, most issuers and platforms will still need to navigate both regimes with the Bank of Canada and the Canadian Securities Commission.