Source time Edition date
PolicyDecrypt
Canada’s Draft Stablecoin Rules Cap Redemption Fees at 1% and Ban Yield
加拿大稳定币规则草案：赎回费上限1%并禁止收益
Ottawa's 1% redemption-fee cap and yield ban force stablecoin issuers to weigh compliance costs against the loss of interest-based demand, a call issuers must make before the 60-day consultation closes.
Judgment
Stablecoin issuers aiming at Canada must decide whether to build to a 1% fee ceiling and no yield before the 60-day comment period ends, or skip a market where interest-paying substitutes remain offshore.
Basis
Decrypt reports Ottawa published the draft on Oct. 24 and opened a 60-day consultation. The draft requires one-to-one reserves and fast redemption, keeps a ban on paying holders interest, and—per the headline—caps redemption fees at 1%. The mechanism: a 1% ceiling limits per-redemption revenue, and the yield ban blocks issuers from using interest to offset compliance or reserve costs, so the Canadian market may only work for issuers with low-cost, high-volume redemption operations.
Unclear The source does not give the penalty for exceeding the 1% fee cap, define “fast redemption,” or say whether incumbents receive grandfathering.
Next Check the consultation docket for issuer comment letters on the 1% cap and yield ban before the 60-day period closes.