Canada proposes stablecoin redemption rules with 1% fee cap and no minimum

Canadian authorities have unveiled draft regulations that would grant stablecoin holders the ability to redeem any amount directly from issuers without a minimum threshold. The new rules set a maximum fee of 1% and are scheduled to take effect in the fall of 2027, pending a 60-day public consultation period. The draft rules, published on October 24, are designed to add operational clarity to the Stablecoin Act, which received royal assent in March. Although parts of the Act have not yet come into force, the proposed guidelines would require issuers to complete redemption requests within three business days. This timeframe is intended to allow issuers adequate time to settle reserve securities and handle processing related to the redemption.

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