Canada opens consultation on stablecoins, citing US GENIUS Act

As part of the potential implementation of its Stablecoin Act, the Canadian government will hear from the public on a proposed framework for tokens from non-financial institutions. Lawmakers in the Canadian government opened a 60-day public consultation on regulations proposed to address non-financial institution stablecoin issuers, including a potential prohibition on yield payments. On Saturday, the government of Canada gave notice that it would be open to public comment on the stablecoin regulations until Dec. 23.