A sign advertises a Bitcoin ATM at a shop in Halifax in 2020. Crypto regulation is fragmented in Canada, with provinces and territories ultimately setting their own rules.Andrew Vaughan/The Canadian Press
Eric Richmond is the chief executive officer and country director of Coinbase Canada.
The Stablecoin Act recently came into force, and proposed regulations were released on Oct. 23. The act provides a federal framework for government-backed stablecoins and recognizes them as payment instruments rather than securities. Until now, all cryptocurrencies have been regulated by securities watchdogs.
The law itself is a major achievement for financial innovation in this country. It is already having an effect on the…
