Bank of Canada outlines 2026 rules to approve only fully backed 1:1 stablecoins

The Bank of Canada has set out guidance that from 2026 it will only approve high-quality stablecoins that are fully backed, maintain 100% reserves, and are pegged 1:1 to a central bank currency. Issuers will need robust risk management, transparent redemption terms, and strong data and cybersecurity protections as part of a broader effort to modernize Canada's financial system and make digital payments faster and safer.