Canada Gazette - Part I, October 24, 2026, volume 160, number 43

The Gazette states that the proposed regulations "are required to bring the SCA into force"[2]. The Gazette says the Stablecoin Act (SCA) received royal assent in March 2026[2].BetaKit reports that the regulations are subject to a 60-day consultation period[3]. Ecommerce Paradise reports that the Gazette says the government intends the rules to take effect in fall 2027[4].According to BetaKit, the draft includes requirements around reserve assets for issuers and where those assets can be held[3].Stablecoin Insider reports that under the draft, issuers must pay out at par within three business days of a request[1].The Gazette says the changes would bring the estimated 30 PSPs[2] (payment service providers) that were not previously covered into the scope of the Retail Payment Activities Act. The Gazette says those providers include crypto-asset trading platforms that provide custodial wallets, software wallets, and crypto payment processors[2].Ecommerce Paradise reports that Koleya Karringten of the Canadian Bitcoin Consortium told BetaKit the draft "should give the industry more certainty and stronger protections for payment use cases."[4]