Canada to Introduce Stablecoin Plan in 2025 Budget Talk

Canada Set to Introduce Stablecoin Plan in November 2025 Budget Talk

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 28, 2025

Key Takeaways

The Canadian government may reveal new stablecoin regulations in its federal budget announcement on November 4;
Officials have met with regulators and industry leaders to craft clear rules for fiat-pegged digital assets like QCAD and USDC;
Without updated laws, the Bank of Canada warns the country risks falling behind others in modernizing digital payments.

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The Canadian government is working on new rules for stablecoins, with an announcement likely to be included in next week’s federal budget.

According to a Bloomberg report on October 27, government officials in Canada have been speaking with regulators and financial industry representatives for several weeks.

The goal is to develop clear guidelines for stablecoins, which are digital assets tied to traditional currencies like the Canadian or US dollar.

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Finance Minister François-Philippe Champagne is expected to share more details when he presents the national budget on November 4.

Currently, Canada does not have a specific set of laws that apply only to stablecoins. Instead, authorities have used existing rules for securities and derivatives to supervise them.

Stablecoins backed by the Canadian dollar are not widely used. One of the few examples is QCAD, created by Toronto-based Stablecorp. This stablecoin is backed by actual Canadian dollars at a 1-to-1 ratio.

The Bank of Canada has warned that, without updated rules, the country may fall behind other countries in adopting modern payment systems. Ron Morrow, a senior official at the Bank of Canada, noted that governments are stepping in to ensure people can use stablecoins safely, without facing unnecessary financial risks.

If the planned laws are included in the budget, they would be expected to take effect in January 2027.

Recently, Florida Representative Webster Barnaby has made a second attempt to allow public funds to be invested in digital assets. How? Read the full story.