According to CoinMeta, on October 24th, Canada published a draft regulation on stablecoins in the Canadian Gazette, prohibiting issuers from paying direct or indirect benefits to holders. The draft requires non-financial institution issuers to register with the Bank of Canada and to maintain high-quality liquid assets in a 1:1 ratio as reserves in banks. Banks and trust companies, which are under prudential regulatory oversight, are not subject to this framework, and bank-issued tokenized deposits can still earn interest. A 60-day consultation period has been initiated for the draft, and the Canadian Treasury Department expects the regulations to come into effect in 2027. The Canadian Bankers Association supports the ban on benefits, while the CEO of Stablecorp, Kesem Frank, advocates for following the U.S. example by allowing certain rewards.