Canada Moves Forward with Stablecoin Regulation in New Federal Budget

TLDR Canada’s federal budget introduces stablecoin regulation, led by the Bank of Canada. Stablecoin issuers must maintain reserves backed by reference currency or liquid assets. Issuers face strict guidelines on cybersecurity, disclosures, and immediate redemptions. The policy prohibits non-bank issuers from offering interest or yield on stablecoin deposits. Coinbase Canada’s CEO suggests improvements for faster [...]

The post Canada Moves Forward with Stablecoin Regulation in New Federal Budget appeared first on Blockonomi.