Canada Joins Stablecoin Club – Finally!

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Canada’s finally catching up! 🎉 In a stunning move that’s slightly less shocking than your aunt’s new TikTok dance, the country plans to regulate stablecoins in 2025-because why let the US have all the fun? Just four months after America’s GENIUS Act, Canada’s budget promises to slap some rules on fiat-backed stablecoins. “Let’s hold reserves, write redemption policies, and protect data… just like the 21st century,” the government said, rolling out a plan that’s less “revolutionary” and more “we’re still here.”

The Bank of Canada will spend $10 million over two years (starting in 2026-2027) to “ensure everything runs smoothly,” which probably translates to “no one crashes the crypto party.” And guess who picks up the tab after that? Yep, the stablecoin issuers. Classic capitalism! 💸

Coinbase Canada’s CEO, Lucas Matheson, called it a game-changer. “This will change how Canadians interact with money and the internet forever,” he said. Or, as we like to call it: “Finally, my mom might understand Venmo.” 😂

Institutional adoption is booming, with Western Union, SWIFT, and Zelle all trying to get in on the stablecoin action. Meanwhile, Tetra Digital raised $10 million for a digital CAD, backed by Shopify, Wealthsimple, and the National Bank of Canada. Turns out, Canada isn’t dead after all-it’s just monetizing the future… slowly.

Oh, and remember when Canada was gonna launch a CBDC? Yeah, that got canceled in September 2024. “No compelling case,” said Governor Tiff Macklem. Sure, Tiff. Just like there’s no compelling case to wear pants in public. 🤷‍♀️

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2025-11-05 05:27