Stablecoin Act (S.C. 2026, c. 3, s. 600)

Marginal note:Definitions

2 The following definitions apply in this Act.

Bank

Bank means the Bank of Canada. (Banque)

Centre

Centre means the Financial Transactions and Reports Analysis Centre of Canada. (Centre)

certified accountant

certified accountant means an individual who is a member in good standing of a professional body of accountants that is constituted by or under an Act of Parliament or a provincial or foreign law. (comptable certifié)

digital asset

digital asset means a digital representation of value that is recorded on a distributed ledger or a similar technology. (actif numérique)

distributed ledger

distributed ledger means a digital database that contains records of transactions among the users of a network and that uses cryptography to maintain the confidentiality, integrity, authenticity and non-repudiation of the data that is recorded in it. (registre distribué)

fiat currency

fiat currency means a currency that is issued by a country and that is designated as legal tender in that country. (monnaie fiduciaire)

financial institution

financial institution means a financial institution, as defined in section 2 of the Bank Act, the corporation described in paragraph 983(4.2)(f) of that Act and any other person provided for in the regulations. (institution financière)

government authority

government authority includes the Royal Canadian Mounted Police, the Communications Security Establishment and the Canadian Security Intelligence Service. (autorité administrative)

Governor

Governor has the same meaning as in section 2 of the Bank of Canada Act. (gouverneur)

incident

incident means an event or series of related events that is unplanned by an issuer and that results in or could reasonably be expected to result in the reduction, deterioration or breakdown of any activity that is performed by the issuer or a third party and that is related to a stablecoin. (incident)

issue

issue, in respect of a stablecoin, means to create the stablecoin and to make it available for purchase, directly or indirectly, by a person in Canada. (émettre)

issuer

issuer means a person that issues a stablecoin. (émetteur)

lawyer

lawyer means

• The following provision is not in force.

  (a) a lawyer who is a member in good standing of a law society of a province or a notary who is a member in good standing of the Chambre des notaires du Québec; and

• The following provision is not in force.

  (b) a lawyer who is a member in good standing of a professional body of lawyers that is constituted under a foreign law. (avocat)

Minister

Minister means the Minister of Finance. (ministre)

outstanding stablecoin

outstanding stablecoin means a stablecoin that an issuer has issued and that has been purchased and neither redeemed nor cancelled. (cryptomonnaie stable en circulation)

person

person means an individual, a corporation, a trust, a joint venture, a partnership, a fund, an unincorporated association or organization and any other legal entity. (personne)

personal information

personal information means information about an identifiable individual. (renseignement personnel)

qualified custodian

qualified custodian means a financial institution, and any other person provided for in the regulations, that meets any requirements provided for in the regulations. (dépositaire autorisé)

reference currency

reference currency means the fiat currency relative to which a stablecoin is intended or designed to maintain a stable value. (monnaie de référence)

stablecoin

stablecoin means a digital asset that is intended or designed to maintain a stable value relative to the value of one fiat currency and that has the characteristics, if any, provided for in the regulations. (cryptomonnaie stable)

third party

third party means a person that, under an arrangement or agreement with an issuer, performs an activity that is related to the issuing or the redemption of a stablecoin issued by the issuer and that is not an employee of the issuer. (tiers)