BREAKING 🚨
Canada has opened a public consultation on draft stablecoin regulations while keeping its ban on yield‑generating activities. 🚀
Under the proposals, non‑bank stablecoin issuers must fully back each token 1:1 with reserves held at qualified Canadian institutions, and must settle redemption requests within three business days. 📊 The consultation period, lasting 60 days, invites industry and consumer groups to comment on compliance requirements, consumer safeguards, and cross‑border interoperability. Regulators say the rules are designed to curb systemic risk and protect investors, while the continued yield ban signals a firm stance against DeFI products promising guaranteed returns. The initiative brings Canada in line with emerging global stablecoin oversight frameworks.
Stakeholders are urged to submit feedback before the deadline to shape the final framework. ✅
$BANK, $QNT, $BULLA
Canada has opened a public consultation on draft stablecoin regulations while keeping its ban on yield‑generating activities. 🚀
Under the proposals, non‑bank stablecoin issuers must fully back each token 1:1 with reserves held at qualified Canadian institutions, and must settle redemption requests within three business days. 📊 The consultation period, lasting 60 days, invites industry and consumer groups to comment on compliance requirements, consumer safeguards, and cross‑border interoperability. Regulators say the rules are designed to curb systemic risk and protect investors, while the continued yield ban signals a firm stance against DeFI products promising guaranteed returns. The initiative brings Canada in line with emerging global stablecoin oversight frameworks.
Stakeholders are urged to submit feedback before the deadline to shape the final framework. ✅
$BANK, $QNT, $BULLA
