Canada Proposes 1% Stablecoin Redemption Fee Cap, Keeps Yield Ban
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Canada has opened a 60-day consultation on draft stablecoin rules covering reserves, redemption speed and fees, while maintaining a ban on interest payments.
The Canadian government is seeking public feedback over 60 days on proposed regulations for stablecoin issuers.
The draft would require issuers to maintain reserves on a one-to-one basis and process redemptions quickly. Redemption fees would be capped at 1%.
The proposal also retains a prohibition on paying interest to stablecoin holders. The rules remain in draft form during the consultation.
Source: Decrypt
