Canada Opens 60-Day Stablecoin Consultation With 3-Day Redemption and 1% Fee Cap

Canada opened a 60-day consultation on stablecoin rules for nonfinancial issuers, running to Dec. 23. The draft would ban yield, require redemption within three business days, cap redemption fees at 1% of total value, and require Bank of Canada registration before issuance. Rules are planned for fall 2027, with the notice citing alignment with the U.S. GENIUS Act.