Canada’s government unveiled a budget bill that would prohibit federally regulated financial institutions from issuing cryptocurrencies directly and require stablecoins to be issued through separate non-financial subsidiaries subject to stablecoin legislation, according to PANews.
The report was published on November 10, 2026, at 09:32 UTC+8. It said the bill had been announced on November 5, local time.
Redemption and reserve safeguards
Under the proposal, the cryptocurrencies issued would need safeguards including redemption at par and asset segregation. They would not be covered by public deposit insurance or government guarantee programs.
The Bank of Canada would be responsible for issuer registration, oversight of regulatory compliance and enforcement.
PANews reported that the stablecoin regulatory framework was expected to take effect in autumn 2027. That timing was an expectation, rather than confirmation that the framework was already in force.
Original source: PANews, November 10, 2026.