Canada has introduced a regulatory framework for fiat-backed stablecoins under Bank of Canada oversight, allocating CA$10 million over two years starting in 2026, according to the country's 2025 federal budget released November 4. The initiative includes CA$5 million in annual operating costs to be recovered from regulated issuers. The Retail Payment Activities Act will be amended to bring stablecoin payment service providers under formal supervision.

Kraken announced on November 3 that European Union traders can now use Bitcoin, Ethereum, and approved stablecoins as collateral for perpetual futures on Kraken Pro. The exchange operates under MiCA and MiFID II regulations, with oversight from Ireland's Central Bank and Cyprus Securities and Exchange Commission. The platform reported $648 million in third-quarter revenue, marking a 50% quarterly increase.