Bank of Canada to Mandate 1:1 Stablecoin Backing with Central Bank Money, Rules Expected by 2026

On December 17, the Bank of Canada said it will approve only high-quality stablecoins with a strict 1:1 peg backed by central bank money, according to BlockBeats. Governor Tiff Macklem stated that approved stablecoins must be fully collateralized with high-quality liquid assets, including treasury bills and government bonds. The policy aims to protect financial stability and consumers, with new regulatory frameworks expected to be finalized by 2026.