Canada is preparing new national rules for stablecoins, with plans outlined in the 2025 federal budget.
Under the proposed approach, companies that issue stablecoins will have to meet several key requirements. They must maintain sufficient funds in reserve to cover customer redemptions and outline the policies governing those redemptions.
They will also need to adopt practices that limit risks, including steps to protect people’s financial and personal information.
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To support the rollout and supervision of the new system, the Bank of Canada will receive $10 million over two years beginning in the 2026–2027 financial year. After that period, about $5 million per year will be allocated to ongoing costs, funded by companies covered under the Retail Payment Activities Act.
Although the exact timing of the legislation’s introduction is not mentioned in the budget, it is part of a larger plan to improve how payments are made across the country.
The goal is to make digital payments more efficient, less costly, and more secure for Canada’s population of over 41 million.
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