Overview
- Governor Tiff Macklem said stablecoins must hold a one‑to‑one peg to central‑bank currency and be backed by high‑quality liquid assets so they can be redeemed at par.
- The Bank of Canada will serve as the regulator for fiat‑backed stablecoins under the federal framework.
- Issuers must fully disclose redemption terms, including timing and fees, and demonstrate sufficient operational resilience.
- The Bank of Canada will work with the Department of Finance in 2026 to convert these principles into enforceable rules.
- Budget documents point to Retail Payment Activities Act amendments and a $10 million allocation over two years starting in 2026 to support oversight and national‑security safeguards.