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Canada opens consultation on draft stablecoin rules, maintains ban on yields

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TLDR — Under the draft rules, non-bank stablecoin issuers must back tokens 1:1 with reserves held at qualified Canadian institutions and settle redemptions within three business days.

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Under the draft rules, non-bank stablecoin issuers must back tokens 1:1 with reserves held at qualified Canadian institutions and settle redemptions within three business days.

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