Canada’s Draft Stablecoin Rules Cap Redemption Fees at 1% and Ban Yield
Summary
Canadian authorities have launched a public consultation regarding new regulatory frameworks for stablecoins. The proposed guidelines mandate full asset backing, swift redemption processes, a one percent limit on redemption fees, and a strict prohibition on generating yield for holders.
Ottawa opened a 60-day consultation on draft rules requiring one-to-one reserves and fast redemption from stablecoin issuers, while keeping the ban on paying holders interest.
Source: Read the full story at Decrypt
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