Canada opens 60-day public consultation on stablecoin regulations citing US GENIUS Act

The Canadian government opened a 60-day public consultation on proposed stablecoin regulations on October 26, 2026, citing the upcoming US GENIUS Act as a reference point. The proposed framework, under Canada's Stablecoin Act passed in March 2026, would restrict non-financial institution issuers from offering interest or yield on tokens and require redemption within three business days. Issuers must register with the Bank of Canada before launching a stablecoin, with rules intended to come into force in fall 2027.