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

The Gazette notice says the proposed Stablecoin Regulations are required to bring the Stablecoin Act into force[2]. The notice adds that the Act received royal assent in March 2026[2].According to the notice, issuers would have to meet requirements covering registration, reserve asset management, redemption, policy development, public reporting and other elements[2].Law firm Fasken says issuers would have to redeem coins for any holder, regardless of the value[3], within three business days.Cryptonews.net reports that issuers could not pay interest for simply holding a coin[1]. It also reports that rewards tied to using a coin, rather than holding it, would stay allowed[1]. The notice says these bans are meant "to distinguish stablecoins from financial products that compete directly with bank deposits"[1].CCN reports that the government expects the Bank of Canada's supervision to cost about C$2.5 million a year, which would be recovered from regulated issuers[4]. According to Parameter, fines for the most serious violations may trigger fines as high as C$10 million[5]. It reports the notice estimates that five issuers, and about 30 more payment companies[1] would come under Bank of Canada oversight.Fasken says the public can comment until December 23, 2026[3]. The firm says the government's stated intention is for the Regulations to come into force in fall 2027[3].