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Canada’s Stablecoin Draft Bars Interest but Allows Transaction Rewards
Covered issuers would need daily reserves at least equal to outstanding stablecoins, and redemption fees could not exceed 1% of the amount redeemed.
Also covered by 6 outlets
- CryptoSlate ↗Canada proposes direct stablecoin cash-outs for small holders with a 1% fee cap
- TokenPost ↗Canada Proposes Stablecoin Redemptions at Any Balance, Fees Capped at 1%
- Cryptopolitan ↗Canada’s draft stablecoin rules shut out yield and route reserves through the banks
- CoinDesk ↗Canada opens consultation on draft stablecoin rules, maintains ban on yields
- Crypto Briefing ↗Canada opens consultation on stablecoin rules, keeps the yield ban in place
- Unchained ↗Canada’s Stablecoin Draft Allows Usage Rewards, Bars Issuers Paying Yield via Third Parties
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