Canada

The Bank of Canada supervises payment service providers under the Retail Payment Activities Act and has been given a supervisory role over stablecoin issuers and, in time, participants in consumer-driven banking.

Registers payment service providers, keeps a public registry, and assesses their operational risk management, incident response and safeguarding of end-user funds. Issues temporary and compliance orders and has said it will publish Notices of Violation. Under the Stablecoin Act it will register and supervise issuers that are not financial institutions.