Overview
- The new framework mandates full reserves, clear redemption rights, robust risk management, personal data protections, and national security safeguards for fiat‑backed tokens.
- Amendments to the Retail Payment Activities Act will allow federal supervision of payment providers that conduct functions using prescribed stablecoins.
- The plan marks a policy pivot from a shelved retail CBDC toward enabling privately issued, federally overseen stablecoins to modernize payments.
- Industry groups praised the move, and Calgary-based Tetra Digital raised CA$10 million to build a Canadian‑dollar stablecoin backed by Shopify, Wealthsimple and National Bank.
- Key details remain unspecified, including the timetable for tabling the bill and the scope of security measures, as the U.S. and U.K. press ahead with their own stablecoin regimes.