The Canadian government has opened a 60-day public consultation on proposed regulations for stablecoin issuers that are not financial institutions, with comments accepted until Dec. 23. The draft proposes barring interest or yield payments, requiring redemption within three business days of tokenholder requests, and capping fees at 1% of the coins' total value. The rules fall under Canada's Stablecoin Act, passed in March, and are intended to take effect in fall 2027, when non-financial issuers would have to register with the Bank of Canada before issuing stablecoins. The framework aims to stay consistent with US and other jurisdictions' stablecoin rules to reduce the regulatory burden on multi-jurisdictional issuers. Meanwhile, the US GENIUS Act is scheduled to take effect in January 2027, and the EU's MiCA could give exchanges until January to halt services for non-compliant stablecoins, likely including Tether's USDT.
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Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/25/2026 | 80,154.09 |
| Change that session | -0.91% |
ETH/USDT
• NeutralEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/25/2026 | 2,329.87 |
| Change that session | -1.23% |
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