Canada is taking a major step toward with its crypto regulation by tackling fiat-backed stablecoins under its 2025 federal budget, signaling a strategic move to align its digital asset policy with the United States’ GENIUS Act.

The new framework marks the nation’s first comprehensive approach to stablecoin oversight, emphasizing transparency, reserve protection, and financial stability.

According to official budget documents released on November 4, the legislation will mandate that stablecoin issuers maintain full asset reserves, create clear redemption policies, and adopt robust data protection and risk management systems.

The plan aims to boost consumer confidence and modernize Canada’s payment ecosystem as digital currencies become more mainstream globally.

Bank of Canada to Spend $

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