Canada’s Draft Stablecoin Rules Cap Redemption Fees at 1% and Ban Yield

Ottawa opened a 60-day consultation on draft rules requiring one-to-one reserves and fast redemption from stablecoin issuers, while keeping the ban on paying holders interest.

By Jose Antonio Lanz

Image accompanying: Canada’s Draft Stablecoin Rules Cap Redemption Fees at 1% and Ban Yield

Ottawa has opened a 60-day consultation on draft rules for stablecoin issuers. The proposals require one-to-one reserves and fast redemption, and they cap redemption fees at 1%.

The draft rules keep in place a ban on paying holders interest, meaning issuers would not be permitted to pay yield on stablecoin holdings.

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