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ARTICLE · 04 NOVEMBER 2026

Canada’s Stablecoin Framework Takes Shape: Proposed Stablecoin Regulations Released For Comment

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On October 24, 2026, the Department of Finance published the proposed Stablecoin Regulations (Proposed Regulations) in the Canada Gazette, Part I. The Proposed Regulations would bring into force the Stablecoin Act (SCA), which received royal assent in March 2026, and make related amendments to the Retail Payment Activities Act (RPAA).

CanadaFinance and Banking
Vladimir Shatiryan
Vladimir Shatiryan
Bonny Murray
Bonny Murray
Chris Barker
Chris Barker
Ora Morison
Ora Morison
Felicia Yifan Jin
Felicia Yifan Jin
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On October 24, 2026, the Department of Finance published the proposed Stablecoin Regulations (Proposed Regulations) in the Canada Gazette, Part I. The Proposed Regulations would bring into force the Stablecoin Act (SCA), which received royal assent in March 2026, and make related amendments to the Retail Payment Activities Act (RPAA). These amendments would bring payment service providers engaged in stablecoin-related activities within scope of the RPAA, such as providers of custodial wallets for stablecoins and crypto payment processors. The government intends for the framework to take effect in fall 2027.

Background and Overview of the Regime

A stablecoin is a digital asset recorded on a blockchain that is designed to hold a fixed value relative to a single government-issued currency, such as one coin for one Canadian or U.S. dollar. Stablecoins are increasingly used as a faster way to make payments, particularly across borders. In Canada, securities regulators have taken the view

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