Canada Consults on Stablecoin Rules, Citing U.S. GENIUS Act

Canada has opened a 60-day public consultation on new regulations aimed at stablecoin issuers that are not traditional financial institutions, including proposals that would restrict yield or interest payments on these tokens and tighten redemption terms. The government says it is seeking feedback on a framework published through Canada’s regulatory process, with comments accepted until Dec. 23. The proposed rules are intended to align Canada’s approach with international efforts while reducing duplicated compliance burdens for issuers operating across multiple jurisdictions.