{
  "slug": "2026-10-24-canada-proposes-stablecoin-rules-requiring-bank-of-canada-registration-and-one",
  "title": "Canada proposes stablecoin rules requiring Bank of Canada registration and one-to-one reserves",
  "date": "2026-10-28T08:45:56.000Z",
  "updated": "2026-10-28T08:45:56.542Z",
  "tags": [
    "news",
    "industry"
  ],
  "source": "https://gazette.gc.ca/rp-pr/p1/2026/2026-10-24/html/reg1-eng.html",
  "summary": "Draft regulations under the Stablecoin Act would mandate registration, reserve requirements, and redemption rules by fall 2027.",
  "kind": "article",
  "body": "# Canada proposes stablecoin rules requiring Bank of Canada registration and one-to-one reserves\n\n*Draft regulations under the Stablecoin Act would mandate registration, reserve requirements, and redemption rules by fall 2027.*\n\nCanada published proposed Stablecoin Regulations in Part I of the [Canada Gazette](https://gazette.gc.ca/rp-pr/p1/2026/2026-10-24/html/reg1-eng.html) on October 24, 2026. The rules set out how issuers would register with the Bank of Canada and hold reserves. The Department of Finance proposed the regulations, which are open for a 60-day comment period. The government intends the rules to take effect in fall 2027.\n\nIssuers would need to register with the Bank of Canada before issuing stablecoins. Reserves must match the stablecoin's reference currency and equal at least the total outstanding at the end of each day. Eligible holdings include demand deposits, government debt maturing within three months, one-business-day reverse repos, and money market funds holding only those assets. Reserves must be held at a Canadian-incorporated custodian in a segregated, bankruptcy-remote account.\n\nHolders could redeem stablecoins one-to-one within three business days of a request, with no minimum amount. Redemption fees would be capped at 1% of the redeemed amount. The government said current fees average around 0.1%, but a lower cap could restrict smaller issuers, while a higher cap could discourage use.\n\nIssuers could not pay interest or yield for holding stablecoins or encourage holding, though transaction-based rewards are permitted. Stablecoins could not be marketed as legal tender, deposits, insured, or government-guaranteed. Penalties for violations range up to C$1 million for serious breaches and C$10 million for very serious ones.\n\nForeign issuers would also be subject to the rules, but the Bank of Canada’s Governor could exempt an issuer regulated under a substantially similar foreign regime. Banks, credit unions, and other prudentially regulated institutions are excluded from the framework.",
  "sources": [
    "https://gazette.gc.ca/rp-pr/p1/2026/2026-10-24/html/reg1-eng.html"
  ],
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