Stablecoin Regulation Canada
FSxT
Designing for Canada’s stablecoin future
Stablecoins are rapidly moving into the mainstream of Canada’s payments conversation, and policymakers have responded in kind. With a proposed Stablecoin Act on the table, Canada is shifting from a provincial, securities-led patchwork toward a Bank of Canada–supervised framework designed for Canadian-dollar stablecoins that behave less like speculative assets and more like reliable digital money.
For businesses building, issuing or integrating stablecoins, early readiness, rather than reactive compliance, is your competitive advantage. Now is the time to map exposure to the proposed federal regime, monitor the progression of stablecoin legislation and anticipated draft regulations, and begin aligning internal models with likely expectations around reserve governance, custody, disclosure, redemption rights and risk controls.
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Road to federal regulation
Nov 4, 2025: Proposed Stablecoin Act introduced
Ottawa introduces its proposed Stablecoin Act as part of Parliament’s budget implementation legislation (Bill C-15), signalling a shift toward a federal, payments-oriented framework for Canadian-dollar stablecoins.
Q1 2026: Stablecoin Act passes (expected)
Assuming no spring election or legislative disruption, Bill C-15 is expected to move through Parliament and receive Royal Assent, formally establishing the Stablecoin Act as framework legislation.
Remainder of 2026: Draft regulations and consultation
Following passage, Ottawa is expected to release draft regulations under the Stablecoin Act for public consultation. This is where core operational requirements for issuers are defined, refined and stress-tested with industry input.
Q1 2027: In-force date (anticipated)
The in-force date remains to be determined. Based on current signals, it is not expected to occur before mid-February 2027, providing meaningful runway for preparation while establishing a clear horizon for readiness and compliance.
Stay informed
Early action matters
If you’re creating or issuing stablecoins, treat this as design time: clarify your regulatory pathway and stakeholder plan, then design the product and operating model around the likely rules to come, ensuring you’re ready to move fast as the federal framework firms up.
The good news? You’re not alone. At Gowling WLG, we continue to help organizations like yours navigate this emerging landscape, from interpreting evolving regulatory expectations to designing governance, reserve, and compliance frameworks that inspire trust. Contact us today to begin a conversation.
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