Canada is following the U.S. in crafting stablecoin laws, with regulators rushing to fit a new framework in the upcoming budget docs.

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The Finance Ministry and central bank partnered on the task force, which will explore the monetary and policy implications of a rise in stablecoin use.

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Western Union avoided digital assets due to volatility and regulatory concerns, but the passage of the GENIUS Act in the U.S. has paved for stablecoin adoption.

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Known as the Liechtenstein Trust Integrity Network (LTIN), it’s operated by the state telecoms company, with contributions from half a dozen private firms.

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