Analysis
Canada's Stablecoin Act and the Crypto Platform Rules: Key Dates
From the OSC's 2021 registration push to the Stablecoin Act's Royal Assent in March 2026: how Canada regulates crypto platforms and stablecoins.
The short version: crypto trading platforms in Canada are regulated under securities law and must register; Canada's Stablecoin Act received Royal Assent on 26 Mar 2026 but is not yet in force (Justice Laws).
Platform Registration
On 29 Mar 2021 the OSC told crypto trading platforms to contact its staff to begin registration or face enforcement action. Platforms could at first give a pre-registration undertaking while their applications were reviewed; on 6 Aug 2024 the CSA announced it would no longer continue that interim approach, and new platforms now apply directly to the Canadian Investment Regulatory Organization (CIRO) (OSC). 14 crypto asset trading platforms are registered to serve investors in Ontario (list).
Stablecoins
The Stablecoin Act was enacted by section 600 of the 2026 budget implementation statute (S.C. 2026, c. 3) and puts stablecoin issuers under Bank of Canada supervision. Its provisions start on a date fixed by order; Finance Canada expects the framework to come into force in 2027, with no exact date (Finance Canada). Meanwhile, the OSC lists issuer undertakings for USDC (Circle) and QCAD.
Sources
- Stablecoin Act (Justice Laws) laws-lois.justice.gc.ca
- Finance Canada www.canada.ca
- OSC www.osc.ca