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

Crowdfund Insider reports that the government published proposed Stablecoin Regulations in the Canada Gazette, Part I, Volume 160, Number 43, launching a 60-day public consultation that runs until 11:59 p.m. EST on December 23, 2026.[2]The Gazette notice says the regulations "are required to bring the SCA into force"[3], referring to the Stablecoin Act. According to the notice, that Act received royal assent in March 2026.[3]According to CryptoNews, the draft says issuers would hold one-to-one reserves with Canadian custodians, redeem within three business days for no more than a 1% fee, and could not pay interest for holding a coin.[4] The outlet adds that rewards tied to using a coin, rather than holding it, would stay allowed.[4]The government notice, as quoted by CryptoNews, says the bans are meant "to distinguish stablecoins from financial products that compete directly with bank deposits or other interest-bearing instruments."[4]CCN reports that the government estimates the Bank of Canada's annual supervision costs at approximately C$2.5 million, which would be recovered from regulated issuers.[5]CCN also reports that the requirement to keep reserves with Canadian custodians "could have implications for international stablecoin issuers operating in Canada, including Circle, the issuer of USDC."[5]The notice, as quoted by CryptoNews, says: "The intention is for the proposed Regulations to come into force in fall 2027."[4]