e-6978

Petition to the Government of Canada

Whereas:

Canada’s financial system is at a pivotal moment as the government advances reforms in open banking, digital payments, and competition;
The Government of Canada, through Budget 2025, has made a commitment to introduce a framework for stablecoin regulation;
A well-regulated crypto sector, including interest-bearing CAD-backed stablecoins, can strengthen Canada’s global competitiveness and support innovation while protecting consumers;
Other jurisdictions such as the E.U., U.K., Australia, and U.S. have established clear frameworks for stablecoins and digital assets, positioning themselves as leaders in financial modernization;
Budget 2025 commitment presents an opportunity to lead; and
Canadian fintechs and innovators require clear and fair rules to compete with large incumbents, drive productivity, and deliver better options to consumers.

We, the undersigned, residents of Canada, call upon the Government of Canada to:

1. Rapidly implement the stablecoin regulatory framework as committed to in Budget 2025, ensuring it protects consumers and safeguards financial stability while fostering innovation;

2. Provide interim guidance and exemptions that give CAD stablecoin issuers and intermediaries a workable path forward during the implementation period to support responsible innovation;

3. Integrate crypto and blockchain considerations into Canada’s ongoing financial modernization agenda, including tokenization, open banking and digital payments infrastructure;

4. Ensure that Canadian fintechs have fair access to banking and payment systems to compete and innovate;

5. Assign the blockchain and crypto cross-coordination mandate to the Minister of Artificial Intelligence and Digital Innovation; and

6. Engage industry, consumer groups, and technical experts in consultations on the design of a CAD-backed stablecoin and related digital-asset policies.

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