The Bank of Canada will only approve high-quality stablecoins pegged to the central bank's currency.

According to Foresight News , the Bank of Canada stated that under new stablecoin regulations expected to be released in 2026, it will only approve "high-quality" stablecoins pegged to the central bank's currency to ensure they become "good money." Bank of Canada Governor Tiff Macklem stated, "We want stablecoins to be good money, like bank notes or bank deposits. Stablecoins must maintain a 1:1 peg to the central bank's currency and be backed by high-quality liquid assets that can be easily converted into cash, typically including Treasury bills and government bonds."