Canada proposes direct stablecoin cash-outs for small holders with a 1% fee cap

Canada’s proposed stablecoin rules would give covered retail holders a way to ask an issuer for their money back without meeting a minimum redemption amount, potentially opening another exit alongside selling tokens through an exchange. The proposal published Oct. 24 would normally require redemption within three business days and cap an issuer’s redemption fee at 1%. It would also let issuers limit daily redemptions when a liquidity shortfall in reserve-asset markets prevents them from meeting all requests. Coverage would depend on Canadian purchaser-location criteria, the issuing entity and any applicable exclusions or exemptions.

Source: CryptoSlate