Crypto Industry Applauds Canada’s Planned Stablecoin Framework

The crypto industry is welcoming Canada‘s pledge to regulate stablecoins, a key announcement in the government’s 2025 budget. The proposed rules would bring much-needed clarity by mandating reserve holdings, redemption policies, and data protection measures.

Lucas Matheson, CEO of Coinbase Canada, is bullish on the development. He told CBC the regulatory framework would “change how Canadians interact with money and the internet forever,” highlighting the potential for mainstream adoption of digital assets.

The government’s plan, which includes $10 million in initial funding for the Bank of Canada, is also seen as a competitive necessity. It comes in the wake of the US passing its GENIUS Act, putting pressure on other major economies to establish their own rules for the growing asset class.