Canada’s draft stablecoin rules shut out yield and route reserves through the banks

Canada has moved to give Canadian banks a prominent role in its latest draft stablecoin regulations, backing the banks’ push for bans on stablecoin yields, while mandating non-bank issuers to park their reserves inside those same banks. The document published in the Canada Gazette landed barely three days after the Office of the Comptroller of the Currency (OCC), the top bank regulator in the United States, drew objections from the banking industry after allowing crypto platforms to continue to pay rewards on stablecoins. The 60-day consultation has now opened on the Friday, October 24, 2026 draft. Canada and the US go different routes with stablecoin yields According to the regulations published in the Canada Gazette , the bar on stablecoin issuers in the country offering token holders interests applies across…

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