Odaily Planet Daily reported that according to people familiar with the matter, Canada is negotiating stablecoin regulatory rules and may announce a major update in the federal budget to be released next week. These people said that government officials have been in in-depth discussions with regulators and industry participants for weeks. It is said that Canadian Finance Minister Francois-Philippe Champagne will address this issue in the budget document released on November 4. In July of this year, the United States passed the Genius Act, which authorizes financial regulators to supervise stablecoin issuers and their reserve management methods, and requires issuers to comply with regulations to prevent money laundering and circumvention of sanctions. This new law has been welcomed by many in the crypto industry. However, in Canada, due to the lack of relevant legislation, regulators have stated that stablecoins may constitute securities or derivatives. Some experts believe that they should be regulated as payment tools and subject to strict supervision. (Jinshi)