Macklem emphasizes need for ‘good’ money as BoC set to regulate stablecoins

Bank of Canada wants to make stablecoins 'good money,' Macklem says

Bank of Canada governor Tiff Macklem said he wants to make stablecoins 'good money' like bank deposits and notes.

Macklem emphasizes need for ‘good’ money as BoC set to regulate stablecoins

Federal government has tasked Bank of Canada with overseeing new regulatory system

Bank of Canada Urges Stronger Backing for Stablecoins

TL;DR Governor Tiff Macklem aims for stablecoins to have the same backing and security as bank deposits. The new Stablecoins Act will regulate issuers and oversee retail payments involving digital assets. Canada draws inspiration from the U.S. legal framework to foster financial innovation without instability risks. Governor Tiff Macklem has announced that the Bank of Canada will lead the regulation of stablecoins in Canada, taking a proactive …