Canada’s Stablecoin Draft Bars Interest but Allows Transaction Rewards
Photo: TokenPost
The Department of Finance Canada’s proposed stablecoin rules would bar issuers from paying holders interest while permitting transaction-linked rewards, drawing a line between interest payments and incentives tied to activity. The interest restriction would apply to payments made directly by an issuer or through a third party. The proposal would cover issuers that are not prudentially regulated financial institutions. They would need reserve assets worth at least the value of outstanding fiat-pegged stablecoins at the end of each day, held at eligible Canadian financial institutions.
Also reported by Unchained.
Source: TokenPost
