Bank of Canada sets 1:1 fiat peg, liquid assets rules for stablecoins by 2026

On Tuesday, Governor Tiff Macklem said the Bank of Canada will permit only fiat-linked, high-quality stablecoins, requiring a 1:1 peg and backing with high-quality liquid assets, under rules expected in 2026. A November 2025 budget report outlined reserve, redemption and risk-management obligations for issuers, while Canada advances real-time payments and open banking.