Overview

• Executive director of payments Ron Morrow urged Ottawa to weigh a federal stablecoin regime and called for swift federal–provincial coordination.
• He said Canada trails peers, pointing to the U.S. GENIUS Act that set collateral and consumer-protection standards for stablecoins.
• The Bank reported supervising about 1,500 payment service providers and noted Real-Time Rail is moving into industry testing as open banking awaits further changes.
• Private use is expanding, with Shopify offering stablecoin checkout and Tetra Digital planning a Canadian-dollar stablecoin for 2026.
• Officials framed guardrails as key to realizing faster, cheaper transfers, including remittances, while addressing money-laundering, cyber, liquidity and collateral risks.