Efforts to mint Canadian stablecoins push on as calls for rule changes grow

TORONTO – Anticipation is building on what the federal government might say in Tuesday’s budget about the buzziest corner of the crypto world.

Stablecoins, the kind of crypto asset that aims to mirror real-world currencies rather than replace them, have been growing fast enough to raise fears they could eventually destabilize Canada’s finances if the country doesn’t change its approach.

There have been increasing calls to simplify the rules to make it easier to launch Canadian-dollar linked stablecoins, and stem the potential outflow of capital from the country.

“At a minimum, from a sovereignty perspective, Canadians should want a Canadian stablecoin,” said Didier Lavallée, chief executive of digital assets company Tetra Digital Group.

Concerns have risen since the United States passe