In a report published on November 10, 2026, at 09:32 (UTC+8), ChainCatcher said the Canadian government had published a budget bill that would prohibit federally regulated financial institutions from issuing cryptocurrency directly. Stablecoins would have to be issued only through independent non-financial subsidiaries regulated under stablecoin law.
Under the bill, announced on November 5 local time, issued cryptocurrency would have to include reserve safeguards such as redemption at face value and segregation of assets, and would not be covered by public deposit insurance or government guarantee programs. The Bank of Canada would handle issuer registration and would supervise and enforce regulatory compliance. ChainCatcher reported that the stablecoin regulatory framework was expected to take effect next autumn.
Original report: ChainCatcher
