Central bank · Canada
Bank of Canada
2 verified items · Official site: www.bankofcanada.ca ↗
Appears in: CBDC & wholesale settlement tracker
Regulatory dates
- 60 days after Canada Gazette, Part I publication (24 Oct 2026)Comment period on the proposed Stablecoin Regulations
- Intended fall 2027 (date fixed by order of the Governor in Council)Stablecoin Act and Stablecoin Regulations intended to come into force
- Within 30 days of the Stablecoin Act coming into forceExisting stablecoin issuers must apply to the Bank of Canada to benefit from transitional relief
Coverage
- T1RegulatorCanada
Canada publishes draft Stablecoin Regulations: Bank of Canada registration, 1:1 reserves, three-day redemption, in force targeted for fall 2027
The Department of Finance Canada pre-published the proposed Stablecoin Regulations in the Canada Gazette, Part I on 24 October 2026. They are needed to bring into force the Stablecoin Act, which received royal assent in March 2026, under which non-financial-institution issuers must register with the Bank of Canada, hold a 1:1 reserve in the reference currency and redeem at par. The draft limits reserves to high-quality liquid assets (demand deposits, government debt of three months or less, one-day reverse repos and qualifying money market funds), requires redemption within three business days, caps redemption fees at 1%, bans interest or yield tied to holding a stablecoin, and requires reserves to be held at a Canadian-incorporated qualified custodian. Related amendments bring stablecoin payment service providers under the Retail Payment Activities Act. Comments are open for 60 days.
Department of Finance Canada (Canada Gazette, Part I) - T1RegulatorCanada
Bank of Canada joins BIS Project Agorá to test tokenized wholesale cross-border payments
The Bank of Canada announced on 27 May 2026 that it is joining the BIS-led Project Agorá, which combines tokenized commercial bank deposits and wholesale central bank money on a programmable multi-currency unified ledger. The project will keep testing its prototype and examine how such a platform could operate within existing rules on settlement finality and anti-money-laundering. The Bank said the project involves seven other central banks and more than 40 financial institutions.
Bank of Canada