Bank of Canada lays out criteria for ‘good money’ stablecoins
Cointelegraph
The Bank of Canada will only approve fiat-backed, high-quality stablecoins pegged 1:1 to central bank currency.Summary
Canada's central bank plans to approve only high-quality stablecoins that are pegged 1:1 to a central bank currency and backed by easily convertible, high-quality liquid assets, such as government bonds, to ensure they function as “good money.” Governor Tiff Macklem outlined these criteria, aligning with upcoming 2026 regulations that will also require issuers to hold sufficient reserves and implement robust risk management frameworks. This move is part of Canada's broader effort to modernize its financial system, making digital transactions faster and safer, complementing other initiatives like the “Real-Time Rail” payments system. Canada previously scrapped plans for a central bank digital currency.
(Source：Cointelegraph)