New regulations for Canadian stablecoins have arrived, but don't expect them to create much of a stir.

[Coin World] Canada's recent regulatory actions on stablecoins, to be honest, will not have a significant impact on the local market. An economist has pointed out that the core of this matter is to make payments faster and more efficient, which is completely different from preventing systemic risks.

But speaking of which, the price of stablecoins like USDT has been rising quite rapidly, but they are holding mostly short-term asset reserves. This can lead to problems—what if a run on the bank happens? The key is if the issuer's own accounts are unbalanced, and without the backing of a heavyweight like the Federal Reserve, the 1:1 peg to the dollar could be in jeopardy.

However, this also has benefits for Canada: cross-border payments can operate 24 hours a day without interruption, and transaction fees may decrease. This is a real benefit.