Canada’s proposed Stablecoin Act would place fiat-linked stablecoins under Bank of Canada oversight, giving a regulated path to issue fully backed, redeemable Canadian-dollar tokens. It aims to preserve domestic monetary control and support demand for Canadian debt.
Canada’s proposed Stablecoin Act would establish a federal regulatory framework governing the issuance and oversight of fiat?referenced stablecoins, with the Bank of Canada responsible for supervising and enforcing compliance. The legislation would require stablecoin issuers to register with the Bank of Canada, maintain reserves equal to the value of outstanding tokens, adopt risk management and governance standards, and meet reporting and compliance obligations.
