🇹🇷 Recognizing the importance of stablecoins in the country, the Canadian Securities Administrators (CSA) have issued new guidelines regarding the treatment of stablecoins. CSA also clarified that crypto service providers may be allowed to offer services for stablecoins tied to a single fiat currency. CSA President and Alberta Securities Commission CEO Stan Magidson stated that transparency of value-based crypto assets is important to protect Canadian investors and maintain market integrity. The regulations will require the stablecoin issuer to maintain a suitable reserve of assets held by a qualified custodian for the benefit of crypto asset holders. Additionally, issuers and platforms offering these stablecoins must make certain information about governance, operations, and asset reserves publicly available. The CSA highlights investment risks by noting the different nature of stablecoins compared to fiat currency.