Canada: Budget Implementation Act enacting Stablecoin Act including advertising rules was passed by House of Commons

On 26 February 2026, the House of Commons passed Bill C-15, which includes the Stablecoin Act under Division 45 of Part 5. The Act would apply to entities issuing stablecoins to the public in Canada. The Act would establish a framework for the oversight of stablecoin issuers, including prohibitions on misleading representations and on offering interest or yield-based incentives in connection with stablecoins. Issuers would be required to maintain reserves equal to or exceeding the value of outstanding stablecoins and to provide periodic reports to the Bank of Canada on their financial condition and reserve composition, supported by independent legal and accounting attestations. The Minister of Finance would be empowered to issue national security orders, including temporary orders, and to prohibit the issuance of stablecoins under specified conditions. The Bank of Canada would be authorised to issue directions requiring corrective measures in cases of non-compliance. Issuers would also be required to establish and publicly disclose governance, risk management, and recovery policies. The provisions would enter into force on a day to be set by order of the Governor in Council.