Crypto part of Canada’s ‘core’ financial system, but risk concerns remain
The crypto industry has seen a number of regulatory changes over the past year, with the Canadian government taking a risk-management, rules-first approach.
Cryptocurrencies and blockchain technology have increasingly become part of Canada’s core financial system over the past year.
In November, the country introduced stablecoin regulations as part of the Canada Stablecoin Act. Introduced as part of the budget, it gives the Bank of Canada the power to regulate stablecoins in the country.
Elsewhere, policymakers are finalizing amendments to laws for crypto asset funds, including those for cold wallets and custodians.