Canada opens consultation on draft stablecoin rules, maintains ban on yields
Photo: CoinDesk
The Canadian government started a 60-day public consultation on draft stablecoin regulations, which maintain a ban on yield payments and require non-bank issuers to deposit their reserves with Canadian financial institutions. The consultation, which ends Dec. 23, comes as the country's banking industry presses for a ban on yield payouts, echoing concerns voiced in the U.S. that customers could move their money out of bank accounts, leaving traditional financial institutions with less to lend.
Also reported by Crypto Briefing.
Source: CoinDesk
