According to CoinMeta, Canada has announced the launch of a consultation on draft regulations for stablecoins, but it still prohibits paying interest and dividends to holders. The proposed framework requires that a 1:1 reserve fund must be held in qualified Canadian financial institutions. Users must be able to exchange stablecoins for cash within three working days, and there is a cap of 1% on the fees for converting stablecoins back to cash. This 60-day consultation will end on December 23rd, and the regulations are expected to come into effect by the end of 2027.