Stablecoin Momentum Builds: Canada Urged to Join the Revolution
As U.S. lawmakers embrace stablecoins with sweeping legislation, Canada faces pressure from Coinbase and crypto leaders to modernize its outdated regulations—or risk falling behind.

Canada is standing at a crossroads while the United States races ahead with sweeping legislation to normalize cryptocurrency, particularly stablecoins, into the financial mainstream. At the forefront of the push to close the gap is Coinbase, the world-renowned crypto exchange, now campaigning aggressively to educate Canadian policymakers and ignite reform.
Leading the charge is Lucas Matheson, head of Coinbase’s Canadian operations. He’s sounding the alarm, urging the federal government to move beyond passive observation and begin crafting a framework that invites, rather than inhibits, the adoption of stablecoins. His message to Ottawa is urgent: match the U.S. momentum, or risk being left behind in a global financial evolution.
Stablecoins, unlike volatile cryptocurrencies such as Bitcoin, are designed to maintain a fixed value by pegging themselves to national currencies like the U.S. dollar. They promise faster cross-border payments, lower transaction fees, and smoother integration with e-commerce and retail systems. But there’s a catch. Without clear rules, questions about how these coins are backed—and by what—continue to haunt the sector. This uncertainty has kept regulators cautious, but it hasn’t slowed growth.
In Washington, change is moving fast. A new bill—backed by both industry and bipartisan lawmakers—would require stablecoin issuers to hold one-to-one reserves in cash or short-term treasuries. It also demands transparency through frequent disclosures. It’s a simple but powerful idea: if these coins are to act like money, they must be backed like money. The legislation offers the kind of credibility the crypto industry has long craved. And it’s working. The U.S. market is accelerating, setting a global standard.
