COINDESK · 2026-10-26 14:23 UTC

Canada opens consultation on draft stablecoin rules, maintains ban on yields

Canada opened a 60-day public consultation on draft stablecoin regulations that maintain a ban on yield payments and require non-bank issuers to deposit reserves with Canadian financial institutions. The banking industry supports the yield prohibition to prevent customers from moving money out of traditional bank accounts, though some Canadian crypto exchanges like Coinbase already offer yields on stablecoins. Non-bank stablecoin issuers must hold reserves equal to circulating tokens and allow redemption within three business days with fees capped at 1%; the framework is expected to take…

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