Canada’s government published proposed stablecoin regulations on October 24, 2026, and opened a 60-day public consultation, with comments due in late December. The rules are not yet in force. They would generally cover domestic and foreign nonbank issuers issuing stablecoins in Canada, but exclude prudentially regulated institutions such as banks and credit unions.
Covered issuers would have to register with the Bank of Canada, hold at least one-to-one reserves in eligible liquid assets, disclose reserve information and report monthly. Holders would have the right to redeem tokens at face value, with issuers required to initiate payment within three business days of a request. The proposal would also bar interest or yield paid simply for holding stablecoins and extend oversight to payment service providers that handle stablecoin transactions.
