Canada’s Draft Stablecoin Rules Uphold Ban on Yield Payments
By PYMNTS
AI summary of the source article
Canada has opened a 60-day consultation on draft stablecoin regulations running until Dec. 23. The proposed rules maintain a ban on yield payments and mandate that nonbank issuers hold their reserves with Canadian financial institutions.
Key facts
- Canada initiated a 60-day consultation on draft stablecoin regulations that closes on Dec. 23.
- The draft rules uphold a ban on yield payments.
- Nonbank issuers must maintain their reserves with Canadian financial institutions.
Source excerpt · PYMNTS
Canada began a 60-day consultation period on draft stablecoin regulations, CoinDesk reported Monday (Oct. 26). The regulations uphold a ban on yield payments and require nonbank issuers to keep their reserves with Canadian financial institutions, the report said. The consultation, which ends Dec. 23, is happening as Canadian banks lobby for a prohibition on yield […] The post Canada’s Draft Stable…