Ottawa to unveil stablecoin plans in budget, sources say

Ottawa is preparing to roll out draft stablecoin legislation as soon as December, as Canada seeks to catch up to U.S. moves that have pushed the fiat-backed digital asset into the mainstream.

According to three sources familiar with the matter, the proposed framework, which is expected to be unveiled in the federal budget on Tuesday and tabled before holiday recess, drew significant inspiration from the Genius Act in the United States.