Скачать или смотреть Canada’s Central Bank Pushes For Strong Reserve Backing For

Canada

According to the bank, stablecoins must be fully redeemable at par, backed by liquid reserves like treasury bills and government bonds.

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

Part of the Team Since

Jan 2024

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Has Also Written

HashKey’s Hong Kong Market Debut Lacks Spark As Volatility Keeps Buyers On Edge

Asia Market Open: Bitcoin Holds $87k As Shares Nudge Up On Mixed US Jobs Report

Whale Unwinds AI Agent Positions at 92% Loss After Market Slump

Grayscale Predicts Bitcoin Will Hit a New All-Time High by Early 2026

Asia Market Open: Bitcoin Tumbles to $85k as Asian Shares Decline in Pre-Jobs Data Trade

Author Profile

Share

Copied

Last updated:

7 hours ago

Canada is moving closer to putting rules around stablecoins, and the Bank of Canada wants the guardrails tight.

Governor Tiff Macklem said Tuesday that any future Canadian stablecoins should look and behave like reliable money, not a speculative token with a promise attached.

Macklem’s message was simple. If stablecoins are going to circulate as a payment tool, they must hold their value at par, and they must remain redeemable when it matters most. “We want stablecoins to be good money, like bank notes or money on deposit at banks,” he said.

To get there, he set out two core conditions. “A stablecoin must be pegged at a one-to-one ratio to a central bank currency and be backed by high-quality liquid assets so that it can always be converted to cash at par,” he told the Montreal Chamber of Commerce said.

In practice, that means reserve assets that can be sold quickly without taking big losses, typically government-backed instruments such as treasury bills and government bonds.

Bank Of Canada Calls For Clear, Fee-Free Stablecoin Exit Paths.

Macklem also pushed for clarity on the user experience, not just the balance sheet. He said issuers should fully disclose the conditions for redeeming stablecoins, including the timing and any fees, so consumers and businesses know exactly what they are buying into before they rely on the token for payments.

The remarks land after the Liberal government said in November that it would introduce stablecoin regulations next year.

Ottawa wants to modernize Canada’s financial system, and it has pointed to stablecoins as one piece of a broader push to keep pace with other economies, including the United States, that are already building rules for fiat-pegged digital tokens.

Canada’s urgency also reflects a wider shift. Stablecoins have pushed further into mainstream finance after the GENIUS Act in the United States created a clearer framework for dollar-backed stablecoins, a move that supporters say could accelerate adoption.

Stablecoins Get Rules, Not Endorsements, From Canada’s Central Bank.

As more dollar stablecoins circulate globally, policymakers in other countries have started to worry about monetary sovereignty and what happens if local users default to foreign digital dollars for everyday transactions.

That is why Macklem framed his stance as pragmatic rather than promotional. “It’s not really up to the Bank of Canada to encourage stablecoins or discourage stablecoins. What is up to the Bank of Canada is to ensure that if Canadians, Canadian businesses want to use stablecoins, they are, in fact,...

https://cryptonews.com/news/canada-ce...

#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!

This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.

bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple