TechFlow news, December 17 — According to Cointelegraph, Bank of Canada Governor Tiff Macklem announced on Tuesday at the Montreal Chamber of Commerce that Canada will only approve stablecoins fully backed 1:1 by central bank money and supported by high-quality liquid assets such as treasury bills and government bonds, ensuring stablecoins can be easily converted into cash.
"We want stablecoins to be good money, just like paper currency or bank deposits," Macklem said. This requirement is central to Canada's stablecoin regulatory framework set to take effect in 2026, which will also mandate issuers to hold sufficient reserves, establish redemption policies, and implement risk management measures.
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