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ARTICLE · 30 SEPTEMBER 2025

Stablecoins In Canada: Regulatory Evolution And Industry Momentum In 2025

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Canada's stablecoin landscape is poised for transformation—driven by an increasing interest from financial institutions and fintech innovators and the need for an updated regulatory framework.

CanadaFinance and Banking
Mohammed Muraj
Mohammed Muraj
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Canada's stablecoin landscape is poised for transformation—driven by an increasing interest from financial institutions and fintech innovators and the need for an updated regulatory framework. While the U.S. has taken bold steps with the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoin Act) to clarify the regulatory framework applicable to payment stablecoins, Canada is now grappling with how to harmonize its approach to payment stablecoins with other major financial systems such as the U.S. and the European Union (EU).

How does Canadian stablecoin regulation compare to others?

The Canadian Securities Administrators (CSA) classify stablecoins (referred to as "value-referenced crypto assets" in Canadian securities law) as securities and/or derivatives under Staff Notice 21-333 Crypto Asset Trading Platforms: Terms and Conditions for Trading Value-Referenced Crypto Assets with Clients.

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