Short answers to frequent questions
What is the Stablecoin Act?
The Stablecoin Act is a federal law enacted in 2026 as part of Bill C-15. According to the Justice Laws Website, it creates a framework for stablecoin issuers, with the Bank of Canada as supervisor.
What is a blockchain node?
A node is a computer that runs the network's software and keeps a copy of the ledger. Nodes check each transaction against the network's rules.
Which regulator supervises stablecoin issuers?
According to the Bank of Canada, it supervises stablecoin issuers and can issue directives to them. The Bank may recommend prohibition by the Minister of Finance if an issuer breaks the Act.
What is a crypto wallet?
A wallet is software or hardware that holds the private keys needed to sign transactions. The coins themselves are recorded on the blockchain, and the keys prove ownership, so a wallet works differently from a bank account.
Where can crypto fraud be reported in Canada?
According to the Canadian Anti-Fraud Centre, fraud can be reported through its website, and local police also receive reports. Recovery of lost funds is not always possible.