Canada's stablecoin rules to have minimal market impact, says Scotiabank

As the Canadian government moves to introduce stablecoin regulations, local bank Scotiabank has assessed that the measures will have a minimal impact on the country's financial markets, CoinDesk reported. Scotiabank stated that the purpose of the regulation is not to address systemic risk but rather to improve payment speed and efficiency and to establish a 24-hour payment system. Canada is currently preparing legislation to regulate issuers of stablecoins pegged to the Canadian dollar.