Budget 2025 Implementation Act, No. 1 (S.C. 2026, c. 3)
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Assented to 2026-03-26
PART 5Various Measures (continued)
DIVISION 45Stablecoin Act (continued)
Consequential and Related Amendments
R.S., c. A-1Access to Information Act
601 Schedule II to the Access to Information Act is amended by adding, in alphabetical order, a reference to
Stablecoin Act
Loi sur les cryptomonnaies stables
and a corresponding reference to “sections 55 and 56”.
2000, c. 17; 2001, c. 41, s. 48Proceeds of Crime (Money Laundering) and Terrorist Financing Act
602 Subsection 53.32(1) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act is replaced by the following:
Marginal note:National security or integrity of financial system
53.32 (1) For the purpose of assisting the Minister in determining whether to grant, revoke, suspend or amend an approval or in exercising the Minister’s powers or performing the Minister’s functions and duties under any of sections 32 to 47 and 96 of the Retail Payment Activities Act or sections 21 to 29 and 67 to 76 and subsection 77(2) of the Stablecoin Act, the Director may, at the request of the Minister or an officer of the Department of Finance, disclose to the Minister or the officer, as the case may be, any information that is under the control of the Centre and that relates to national security or to safeguarding the integrity of Canada’s financial system.
603 Subsections 65.03(1) and (2) of the Act are replaced by the following:
Marginal note:Disclosure to Bank of Canada
65.03 (1) The Centre may disclose to the Bank of Canada any information relating to the compliance with Part 1 or 1.1 of persons or entities to whom Part 1 or 1.1 applies if the Centre is of the opinion that the information is relevant to the Bank of Canada’s objects under the Retail Payment Activities Act or the Stablecoin Act.
Marginal note:Limitation
(2) Any information disclosed by the Centre under subsection (1) may be used by the Bank of Canada only for the purpose of carrying out the Bank of Canada’s objects under the Retail Payment Activities Act or the Stablecoin Act or, in relation to a provision of either of those Acts that is not in force, for the purpose of planning to carry out those objects.
2021, c. 23, s. 177Retail Payment Activities Act
604 The definition payment function in section 2 of the Retail Payment Activities Act is amended by striking out “or” at the end of paragraph (d), by adding “or” at the end of paragraph (e) and by adding the following after paragraph (e):
(f) the transmission or maintenance of an end user’s encrypted or tokenized payment instrument or an end user’s private key, whether or not the private key is encrypted or tokenized. (fonction de paiement)
605 Subsection 18(1) of the Act is amended by striking out “and” at the end of paragraph (b), by adding “and” at the end of paragraph (c) and by adding the following after paragraph (c):
(d) any prescribed individual or entity, if the incident relates to a unit that meets prescribed criteria.
Coming into Force
Marginal note:Order in council
606 Sections 601 to 605 come into force on a day or days to be fixed by order of the Governor in Council.
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