On November 4th, 2023, Canada could unveil new stablecoin regulations in its federal budget, as Finance Minister Francois-Philippe Champagne prepares to address the topic. Intensive discussions are ongoing among government officials, regulators, and industry stakeholders.
The U.S. Introduced the Genius Act in July, increasing regulation on stablecoin issuers, contrasting Canada’s current regulatory landscape. Canadian officials are considering classifying stablecoins as securities or derivatives, while some experts advocate treating them as payment instruments.
Leave a Reply