Regulation · Regime · Canada · Primary legislation · Bank of Canada
Canada Stablecoin Act (Budget 2025 Implementation Act, No. 1, S.C. 2026, c. 3, s. 600)New
Canada's federal framework for fiat-backed stablecoins, enacted in the Budget 2025 Implementation Act, No. 1 (Bill C-15, Royal Assent 26 March 2026). The Bank of Canada will register non-financial-institution stablecoin issuers, supervise them and enforce the rules, with a focus on full backing by high-quality liquid assets and redemption at par. The Department of Finance is drafting the regulations with the Bank; the Act's requirements are not yet in force.
Final, not yet in force
Key points
- The Bank of Canada will register stablecoin issuers that are not financial institutions, supervise their compliance, monitor issuance and redemption risks and take enforcement action.[1]
- Supervision focuses on stablecoins being fully backed by high-quality liquid assets and redeemable at par.[1]
- Supporting regulations are being developed by the Department of Finance with the Bank's support.[1]
What it covers
Timeline
- 18 Nov 2025 · ProposedBill C-15 (Budget 2025 Implementation Act, No. 1) introduced in the House of Commons.[2]
- 26 Mar 2026 · FinalRoyal Assent; the Stablecoin Act is enacted by section 600 of S.C. 2026, c. 3.[2]
Deployments operating under it
None recorded with a source yet.
Likely relevant to
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| QCAD Canadian dollar stablecoinNew Stablecorp | Live (limited) | Reviewed 24d ago |
Sources
- [1]Stablecoins — Bank of Canada. Accessed 18 Oct 2026.A
- [2]C-15 (45-1) - LEGISinfo - Parliament of Canada — Parliament of Canada (LEGISinfo). Accessed 18 Oct 2026.A