The Canadian government launched a 60-day public consultation on proposed rules for stablecoins issued by non-financial institutions, with comments open until December 23. The framework would potentially prohibit interest or yield payments to discourage passive token holding. Issuers would have to redeem stablecoins within three business days of a request, charge no fee exceeding 1% of their total value, and register with the Bank of Canada before issuing a stablecoin. The regulations are expected to enter into force in fall 2027, while the US GENIUS Act is scheduled to take effect in January 2027 and the European Union’s MiCA framework could require platforms to suspend some stablecoin services in January.
Source: Read the original article
