Canada Seeks Feedback on Stablecoin Rules, Keeps Yield Ban
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Canada has opened consultation on draft stablecoin rules requiring full reserve backing and redemptions within three business days, while retaining a ban on yields.
Canada has launched a consultation on proposed stablecoin regulations that would preserve a ban on yields, according to CoinDesk.
The draft would require non-bank issuers to maintain reserves equal to the value of their tokens. Those reserves would need to be held at qualified institutions in Canada.
Issuers would also have to complete redemptions within three business days. The requirements remain proposals under consultation rather than final rules.
Source: CoinDesk
