The Bank of Canada has laid out new standards for stablecoin regulation to take effect in 2026. Governor Tiff Macklem said stablecoins must be pegged one-to-one to a central bank currency like the Canadian dollar. They also must be backed by high-quality liquid assets such as government bonds. These rules aim to make stablecoins safe and trustworthy like traditional money.
Under the planned framework, issuers will need to hold strong reserves. They must set clear redemption policies so users know how and when they can cash out. Issuers will also have to manage financial risks and protect customer data. This is meant to prevent sudden losses or trust issues.
The Bank says stablecoins should be “good money,” meaning users can always trust their value and convert them into cash when needed. Canada plans to work with the Department of Finance to finalize rules next year. This move mirrors stablecoin regulation efforts in other countries, as digital money becomes more common in payments and online commerce.
Overall, the new standards are designed to protect consumers, support innovation, and strengthen Canada’s digital payment system before official regulations begin in 2026.
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