Ontario's securities regulator wants to keep supervising stablecoins on crypto platforms

Grant Vingoe, CEO of the Ontario Securities Commission (OSC), says the regulator sees stablecoins as securities or potentially derivatives, but is ready to leave some oversight to federal authorities.

"There's no need to assert jurisdiction when it's not serving a purpose," Vingoe said of overlapping rules.

— Grant Vingoe, CEO of the OSC

What it covers

Stablecoin

Ottawa is putting in place its Stablecoin Act, a federal framework for non-bank issuers of digital tokens backed by a currency and designed to hold a stable value against it.

United States

Not securities

Ontario regulator

Securities or derivatives

The U.S. has passed a law saying stablecoins are not securities, but Vingoe says Canada must weigh its own market and history of investor losses rather than copy U.S. reforms.

Economy · 1 d ago

Ontario's securities regulator wants to keep supervising stablecoins on crypto platforms

"There's no need to assert jurisdiction when it's not serving a purpose," Vingoe said of overlapping rules.

Ottawa is putting in place its Stablecoin Act, a federal framework for non-bank issuers of digital tokens backed by a currency and designed to hold a stable value against it.

The U.S. has passed a law saying stablecoins are not securities, but Vingoe says Canada must weigh its own market and history of investor losses rather than copy U.S. reforms.

Ontario's securities regulator wants to keep supervising stablecoins on crypto platforms

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