Canada’s Draft Stablecoin Rules Cap Redemption Fees at 1% and Ban Yield

Canada proposed rules on Saturday that would force companies issuing stablecoins—crypto tokens designed to hold a steady value, usually one U.S. dollar—to keep real money behind every coin and hand it back on request. The draft, published in the Canada Gazette, the government's official newspaper, also keeps a ban on paying holders interest, otherwise known as yield. For anyone who holds these tokens or might send money abroad with them, the rules decide whether you get real cash back if the com...