Canada | Crypto

Bank of Canada stablecoin regulations could arrive in mid or late 2027, pushing the detailed rulebook later into the same year that Canada's government has already marked for its framework to take effect. That timing lands just as Visa Canada and Wealthsimple are piloting USDC settlement for certain card-network obligations in Canada. The result is […] The post Bank of Canada to bring stablecoin rules in 2027 with US Clarity Act on the brink of stalling appeared first on CryptoSlate.

The country that gave the world its first crypto ATMs is now preparing to eliminate them entirely. In April 2013, a Vancouver coffee shop installed what would become crypto's most recognizable retail footprint, a machine that let ordinary people convert cash into Bitcoin without a bank account, a broker, or much friction at all. Thirteen […] The post Canada wants to ban crypto ATMs as fraud fears turn Bitcoin access into a political target appeared first on CryptoSlate.

Ottawa says Bitcoin ATMs have become a key tool for scammers, as regulators move to tighten oversight of high-risk parts of the crypto sector. The Canadian government has proposed banning Bitcoin and other crypto ATMs, arguing the machines have become a primary on-ramp for fraudsters and money launderers rather than a convenient access point for everyday users. The government's Spring Economic Update 2026, published on April 28, says crypto ATMs are a “primary method for scammers to defraud victims and for criminals to place their cash proceeds of crime,” and explicitly states that the government “proposes to ban crypto ATMs.” The proposal states that Canadians will still be able to buy virtual currencies from brick-and-mortar money services businesses, but the standalone kiosks that have proliferated in malls, gas stations and corner stores would be phased out. Read more

Lawmakers look to push election reform that would block crypto campaign donations, even as Canada expands oversight of stablecoins and digital asset markets. Canada is moving closer to banning political donations made in cryptocurrency, as lawmakers in Ottawa tighten rules around how money flows into elections. That's after a proposed law — Bill C-25, the Strong and Free Elections Act — passed a second reading in the House of Commons on Friday. The vote signals that lawmakers support the bill in principle and will now study it in detail at committee, where amendments can still be made. The legislation would prohibit political parties and candidates from accepting cryptocurrency donations, closing what regulators see as a gap in campaign finance rules. Read more

The technology services provider said wealth managers have faced challenges integrating digital assets without relying on separate systems. Broadridge Financial Solutions has launched a digital asset platform for Canadian wealth managers, allowing companies to offer cryptocurrencies and tokenized assets alongside traditional investments. According to Monday’s announcement, the platform integrates trading, custody and asset servicing, enabling firms to manage digital and traditional assets within existing workflows rather than through separate systems. It also supports both advisor-led and self-directed models, with connectivity to custodians and exchanges. The platform offers access to cryptocurrencies and tokenized assets including equities, funds and alternative investments, with integrated wallets, institutional custody options and connectivity to exchanges and asset managers. Read more

A Bank of Canada staff paper found Aave V3 avoided bad debt in 2024, but said the model pushed losses onto borrowers during liquidations. A Bank of Canada staff paper found that Aave V3 reported zero non-performing loans in 2024, with overcollateralization and automated liquidations helping prevent lender losses in its Ethereum lending market. Using transaction-level data from Jan. 27, 2023, to May 6, 2025, the study found that positions were typically liquidated before collateral values fell below outstanding debt, helping contain lender losses across the sample. But the model came with a tradeoff, the paper said. While it protected lenders from unrecovered losses, it also shifted risk onto borrowers and constrained capital efficiency compared with traditional lending systems. Read more

A new bill in Canada would ban crypto donations to political parties, a move which election overseers have supported in past recommendations to Parliament. A new bill in Canada, if passed, would ban political parties and other third parties in elections from accepting cryptocurrency donations in a bid to prevent election interference. The Strong and Free Elections Act would also ban contributions made by money orders and prepaid cards, citing these methods as difficult to track. The bill notes the potential for foreign actors to influence elections through difficult-to-trace digital payment methods, ensuring Canadian elections “remain free, fair and secure at all times,” according to Government House Leader Steven MacKinnon.  Read more

A similar bill was proposed in 2024 but it failed to advance past the second reading in the House of Commons and ultimately died before it could become law. Canada’s federal government has proposed a total ban on cryptocurrency donations to political parties, citing concerns that foreign entities could exploit the technology to interfere in elections. Known as the Strong and Free Elections Act, the bill was introduced on Thursday and proposes to amend the Canada Elections Act to prohibit political parties and third parties involved in the election process from accepting donations in crypto, money orders and prepaid cards to prevent anonymous and “hard to trace contributions.” The bill's sponsor, Steven MacKinnon, the government House leader, said in an X statement on Thursday that the measures are intended to block foreign interference and other threats to elections. Read more

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. Read more

Dubbed “Operation Atlantic,“ the effort involves law enforcement agencies from the three countries and is aimed at preventing phishing attacks involving cryptocurrencies. The US Secret Service, UK National Crime Agency, and Canadian authorities have partnered to disrupt fraudulent schemes related to crypto, raise awareness of scams, and recover stolen funds. In a Monday notice, law enforcement agencies from the three countries — including Canada’s Ontario Provincial Police and the Ontario Securities Commission — said that they had launched “Operation Atlantic,” focusing on identifying people at risk of losing or those who had already lost crypto through “approval phishing” schemes. “Approval phishing and investment scams cost victims millions in financial loss each year,” said Brent Daniels, deputy assistant director for the US Secret Service’s Office of Field Operations. The agencies said they hope to identify and disrupt these scams in near real-time. Read more

A pilot involving the central bank and major financial institutions tested whether distributed ledger infrastructure could streamline bond issuance, trading and settlement. Canada has completed a pilot program testing the use of distributed ledger technology in bond markets, culminating in the issuance of the country’s first tokenized bond, according to a Friday announcement from the Bank of Canada. The experiment, known as Project Samara, involved the Bank of Canada, Export Development Canada, Royal Bank of Canada and TD Bank Group, and explored if blockchain-style infrastructure could streamline bond issuance, trading and settlement. As part of the pilot, Export Development Canada issued a $100 million Canadian dollar ($73.6 million) bond with a maturity of less than three months to a closed group of investors. The security was issued, traded and settled on a distributed ledger platform, with payments processed using wholesale central bank deposits rather than commercial bank money. Read more

The Canadian self-regulatory organization outlined custody limits, capital thresholds and reporting rules while long-term regulation remains in progress. The Canadian Investment Regulatory Organization (CIRO) has formalized its interim framework governing the custody of crypto and tokenized assets. The move outlined how dealer members are expected to safeguard client holdings while permanent crypto-specific rules remain under development. In a Tuesday notice, CIRO said the framework sets out its supervisory expectations for investment dealers operating crypto trading platforms, including custody limits, segregation standards, reporting obligations and tiered requirements for third-party crypto custodians. Read more

Canada's Prime Minister, Mark Carney, walked onto the World Economic Forum's Davos stage yesterday and said the quiet part out loud. The rules-based order, the thing leaders love to invoke when they want the world to behave, is fading. Carney called it a “pleasant fiction.” He said we are living through a “rupture.” He said […] The post Bitcoin is now your only lifeboat as Canada says the current world order is merely a “pleasant fiction” appeared first on CryptoSlate.

Canada’s central bank will approve only fiat-backed, high-quality stablecoins to ensure they are “good money” as part of the country’s plan to modernize its financial system. The Bank of Canada has signaled it will only approve high-quality stablecoins tied to central bank currencies to ensure stablecoins serve as “good money” under the country’s upcoming stablecoin regulations, expected in 2026. “We want stablecoins to be good money, like bank notes or money on deposit at banks,” Governor Tiff Macklem told the Montreal Chamber of Commerce on Tuesday. Macklem wants the stablecoins to be pegged at a one-to-one ratio to a central bank currency and backed by “high-quality liquid assets” that can be easily converted into cash. Such assets typically include Treasury bills and government bonds. Read more

Canada eyes new stablecoin rules in upcoming budget, aiming to modernize payments and follow the US GENIUS Act’s regulatory example. The Canadian federal government is reportedly preparing new rules for stablecoins, with an update potentially coming in next week’s federal budget, signaling that more countries may follow the United States’ lead after the landmark passage of the GENIUS Act. Citing people familiar with the discussions, Bloomberg reported Monday that government officials have been meeting with regulators and industry stakeholders for several weeks. The update on stablecoin regulation could be unveiled as early as Nov. 4, when Finance Minister François-Philippe Champagne presents the federal budget. Canada lacks a comprehensive legal framework for stablecoins, though regulators have previously indicated that certain tokens could qualify as securities or derivatives under existing laws. Read more

Ron Morrow, head of payments at Canada’s central bank, called on regulators to pass a framework for stablecoins or be left behind. Canada’s central bank is calling for the country to establish a stablecoin regulatory framework to modernize the payment system and avoid falling behind other countries that are moving forward with such policies. “Even if you’re on the right track, you’ll get run over if you sit there,” Ron Morrow, the executive director of payments, supervision and oversight at the Bank of Canada, said in a speech Thursday at the Chartered Professional Accountants conference in Ottawa, Canada, a transcript of which was published on the central bank’s website. Morrow called on federal and provincial regulators to create a policy framework for stablecoins. “At the end of the day, for stablecoins to be seen as money, they need to be as safe and stable as the balance in your bank account,” Morrow said, adding: Read more

NextGen Digital Platforms Inc. has officially entered the world of corporate crypto treasury strategies with the acquisition of $1 million worth of Bitcoin.  The post Canada’s NextGen Digital Launches Crypto Treasury Strategy with $1M Bitcoin Acquisition appeared first on Cryptonews.

Canadian asset manager 3iQ has launched an XRP-focused exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX) under the XRPQ ticker. According to a June 18 statement, XRPQ will offer investors a six-month waiver on management fees and hold only long-term positions on the digital asset. These assets are sourced from reputable exchanges and over-the-counter […] The post XRP network activity surges as Canada launches an XRP ETF appeared first on CryptoSlate.

While other countries move toward integrating crypto into their financial systems, Canada is lagging, costing the country capital, talent and competitiveness. Canada’s direction on digital asset innovation remains uncertain. Opinion by: Jillian Friedman, chief operating officer, Symbiotic Since the Canadian federal election, there’s been little clarity on where this country is heading with digital asset innovation. Crypto regulation and policy didn’t make it into any of the parties’ campaign platforms. It’s a missed opportunity at a time when Canada ​​needs swift action about whether it wants to be a competitor in this space or simply a bystander. Early-stage investments are already showing signs of strain. Read more

Crypto industry observers in Canada are concerned that their industry is being left behind without a clear framework for stablecoins. The slow adoption of stablecoins in Canada has some local crypto industry observers concerned that the country is falling behind. The Canadian Securities Administrators (CSA) classified stablecoins as “securities and/or derivatives” in December 2022 after the FTX debacle that shook markets and turned many lawmakers against the crypto industry. Regulating stablecoins as a security has seen few local stablecoin issuers arise, but in the United States and the European Union, softening regulations have seen significant growth in the stablecoin market. This makes Canada, observers say, less competitive with other jurisdictions.  Read more