On November 10, 2026, PANews reported that the Canadian government had published a budget bill that would prohibit federally regulated financial institutions from issuing cryptocurrency directly. Under the bill, stablecoins could be issued only through independent non-financial subsidiaries regulated under stablecoin law.
The bill, announced on November 5 local time, would require issued cryptocurrency to include reserve safeguards such as redemption at face value and segregation of assets. Those instruments would not be included in public deposit insurance or government guarantee programs. The report describes proposed legal conditions for issuance and backing; it is not an attestation or an audit of any issuer’s reserves, and it does not make a stablecoin insured or always redeemable.
The Bank of Canada would be responsible for registering issuers and for supervising and enforcing regulatory compliance. The stablecoin regulatory framework was expected to take effect the following autumn.
Original report: PANews, November 10, 2026, 09:32 (UTC+8), describing a budget bill announced on November 5 local time.
