Bank of Canada lays out criteria for ‘good money’ stablecoins
The Bank of Canada has signaled it will only approve high-quality stablecoins tied to central bank currencies to ensure stablecoins serve as “good money” under the country’s upcoming stablecoin regulations, expected in 2026.“We want stablecoins to be good ...
Canada central bank assesses innovations and challenges of DeFi
The Bank of Canada published a staff note on decentralized finance (DeFi) on Oct. 17, assessing the innovations that made it popular and the challenges and risks associated with its use.The staff note described DeFi as a multi-layered structure, with the Ethereum blockchain serving as ...
Canadians have ‘weak incentives’ to use a CBDC: Bank of Canada
The typical Canadian has little reason to adopt a central bank-issued digital currency, which could cause problems with its broad acceptance, according to a new paper from the Bank of Canada. In the staff discussion paper released on Aug. 10, the central bank looked at a hypothetical scena ...