Ottawa opened a 60-day consultation on draft rules requiring one-to-one reserves and fast redemption from stablecoin issuers, while keeping the ban on paying holders interest.
- Canada has proposed draft rules for stablecoin issuers, mandating one-to-one reserves and fast redemptions with capped fees.
- The rules maintain a ban on paying interest (yield) to stablecoin holders, distinguishing them from bank deposits.
- These regulations align with similar measures in the U.S. and aim to enhance transparency and security in the stablecoin market.
Topics: Legal regulatory, Jurisdictions, Asset types, Securities law classification, Regulatory sandboxes pilots, Stablecoins digital cash
Tags: #stablecoinrules #canada #redemptionfees #yieldban #reserves #bankofcanada #crossborderpayments #geniusact #usdc