Canada has announced its intention to implement legislative regulation of stablecoins within the framework of the federal budget for 2025. This move marks the beginning of the establishment of official rules for the digital asset market in the country, aimed at enhancing transparency and user trust in modern financial technologies.
This is reported by Finway
New Requirements for Issuers and Market Oversight
The proposed changes stipulate that issuers of stablecoins backed by fiat currencies will be required to maintain sufficient reserves, develop a redemption policy, implement effective risk management systems, and ensure the protection of users’ personal data. Additionally, there are plans to strengthen national security guarantees to support the stability of the financial system.
“The document states that the future law will require issuers to maintain sufficient reserves, implement a redemption policy, create risk management systems, and protect users’ personal data.”
To implement the new legislation, the Bank of Canada will receive $10 million from the Consolidated Revenue Fund for the period of 2026-2027. Subsequently, annual regulatory costs are estimated at $5 million, which will be offset by fees from stablecoin issuers.
Comprehensive Approach and Integration into Global Practices
In addition to the main bill, amendments to the “Retail Payments” law are planned, which will expand regulation to payment service providers working with stablecoins. These measures will create a unified system of oversight and control over digital assets, which, according to the authorities, will enhance the financial security of the country.
By implementing these initiatives, Canada joins a number of countries that are already working on stablecoin regulation. The GENIUS Act has been adopted in the United States, the MiCA regulations are in effect in the European Union, and Japan and South Korea are also developing their own regulations for digital assets.
As of November 5, 2025, the total volume of stablecoins worldwide reached $314.5 billion. According to Standard Chartered Bank, by 2028, up to $1 trillion could be transferred from bank deposits in emerging markets to this asset class.
Experts note that the new Canadian measures are aimed at ensuring the safe development of digital assets, increasing market transparency, and strengthening consumer trust. Furthermore, the establishment of a regulatory framework is expected to reduce financial risks associated with the growing popularity of stablecoins among companies and the population of the country.
Previously, Canada fined the cryptocurrency platform Cryptomus a record $126 million for violations of anti-money laundering legislation.