🇨🇦 Follows 🇺🇸 in Stablecoin Saga: Money, Mayhem, and Maple Syrup 🍁💰

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Ah, the great white north, land of moose, hockey, and now, financial regulation! 🇨🇦 Canada, ever the dutiful pupil, has decided to follow in the footsteps of its southern neighbor, the United States, by introducing new rules for fiat-backed stablecoins. 🤑 Inspired by the GENIUS Act (yes, that’s its real name, no jokes here), which the U.S. passed into law in July 2025, Canada’s 2025 federal budget now includes a plan to keep your digital loonies and toonies safe. 🌐

The rules? Oh, they’re as strict as a Canadian winter. ❄️ Companies issuing stablecoins will have to play by the book: protect users’ money, safeguard personal information, and pass national security checks. Redemption policies will be clearer than a mountain lake, ensuring you can always swap your coins for cold, hard cash. 🏦 According to the budget report, the Bank of Canada will be the ringmaster of this circus, managing the system and handling its funding. They’ll stash away $10 million over two years, starting in 2026-2027, to get the ball rolling. After that, stablecoin issuers will foot the bill with annual fees of about $5 million. 💼

Digital Dollars and Sense

But wait, there’s more! The Retail Payment Activities Act is getting a facelift, meaning any company dabbling in stablecoin payments will now fall under Canadian regulation. 🇨🇦 The goal? To make digital money as reliable as a Tim Hortons coffee run for Canada’s 41.7 million residents. ☕ No official date has been set for Parliament to take up the legislation, but rest assured, the wheels are turning slower than a Toronto streetcar in rush hour. 🚋

Industry experts, ever the optimists, have chimed in. Faryar Shirzad, CPO of Coinbase, tweeted his approval, calling the move “particularly critical” due to Canada’s “mixed jurisdiction of federal and provincial authorities.” 🛡️ He also tipped his hat to the Prime Minister for prepping Canada to be a player in the “advent of tokenization in the future of the global financial system.” 🚀 Lucas Matheson, CEO of Coinbase Canada, went even further, claiming the change will “transform how Canadians interact with money and the internet forever.” Bold words, Lucas, bold words. 🌍

Big news out of Canada as Prime Minister @MarkJCarney announces his plans to propose a federal regulatory framework for stablecoins. Having a clear national law on stablecoins is particularly critical in Canada because of the mixed jurisdiction of federal and provincial…

– Faryar Shirzad 🛡️ (@faryarshirzad) November 5, 2025

Canada’s move is part of a global trend, of course. The U.S. has its GENIUS Act, Europe has its Markets in Crypto-Assets Regulation, and Japan and South Korea are busy building their own systems. 🌏 Meanwhile, reports from Keyrock and Latin American exchange Bitso predict the stablecoin market could hit a cool $1 trillion by 2030. 💹

So, there you have it: Canada, the land of maple syrup and now, stablecoin regulation. 🍁💰 Will it work? Only time will tell. But one thing’s for sure: the financial world is never short on drama. 🎭

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2025-11-06 00:50