Canada will regulate stablecoins. The 2025 federal budget includes a plan to introduce legislation requiring issuers to hold proper reserves and protect user data.
The move follows the US, which passed its own stablecoin laws last year. The Bank of Canada will get $10 million to set up the regulatory framework, with costs later recovered from the industry.
The initiative is part of a larger push to modernize Canadian payments. Coinbase Canada’s CEO Lucas Matheson endorsed the proposal, stating it will “change how Canadians interact with money and the internet forever.”
