Overview
- The budget commits to legislation establishing a statutory framework for cash‑backed stablecoins, with rules for issuance, redemption and oversight.
- Issuers will be required to maintain asset reserves and meet national‑security standards to safeguard Canadians’ personal and financial data.
- The Bank of Canada is assigned to administer the regime, funded at $10 million over 2026–27, with about $5 million in ongoing annual costs recovered from regulated issuers.
- The government will amend the Retail Payment Activities Act to regulate payment service providers that conduct payment functions using prescribed stablecoins.
- No tabling date was provided, and the budget also funds oversight tied to the Consumer Driving Banking Act plus $25.7 million for CSIS and the RCMP to support information‑exchange safeguards.