Bank of Canada Calls for Guardrails as Stablecoins Go Mainstream
In brief Bank of Canada Deputy Governor Ron Morrow called for federal stablecoin regulation while highlighting Canada’s lagging payments modernization compared to the U.S. and UK. Canadian remittance costs are “significantly higher” than other developed nations, creating opportunities for stablecoin adoption to reduce cross-border payment fees. Stablecoins could cut remittance fees to “less than 1…
