Canada Plans to Introduce Stablecoin Regulation Legislation, Following the U.S. Lead

BlockBeats News, November 5th, the Canadian government officially announced its regulatory plan for stablecoins in its fiscal plan, following the regulatory footsteps of the United States to regulate fiat-backed stablecoins, requiring issuers to maintain sufficient reserves and adopt robust risk management measures. The Bank of Canada will allocate 10 million Canadian dollars over the two years starting in the 2026-2027 fiscal year to ensure a smooth process, with an additional 5 million Canadian dollars per year expected to be covered by stablecoin issuers regulated under the Retail Payments Activities Act.