Canada Grants Banks Access to Stablecoins but Excludes Deposit Guarantees
Key Highlights: Canada proposes legislative amendments preventing federally regulated financial institutions from directly issuing stablecoins, steering issuance to dedicated non-financial subsidiaries. The Bank of Canada will oversee the regime by registering issuers, enforcing compliance, and monitoring issuance and redemption risks. Full implementation of the broader regulatory framework is targeted for fall 2027 following Royal Assent ...