Canada committed to a stablecoin regulatory framework in Budget 2025. Now there's an official House of Commons petition (e-6978) pushing the government to actually deliver on it.
The ask is straightforward:
→ Implement the framework with real timelines
→ Give CAD stablecoin issuers interim guidance so they can build, not just wait
→ Integrate blockchain into the broader open banking and digital payments agenda
→ Make sure fintechs get fair access to banking and payment rails
The cost of inaction is already showing. We're watching a brain drain in real time — top founders and talent moving south or back to Asia, and investment capital following them out the door. The EU has MiCA. The US is pushing stablecoin legislation. Canada has a budget line item and no timeline. However, we still have many founders and entrepreneurs building towards this vision in Canada, including our team at AllScale.
Clear regulation isn't anti-innovation — regulatory limbo is. If you're a Canadian resident and you want to see this country compete in the next era of financial infrastructure, please learn about this petition and support it with your signature.