The Globe and Mail reports in its Friday, Sept. 19, edition that the Bank of Canada advises the federal government to regulate stablecoins due to rising interest in digital assets in Canada and U.S. efforts for broader adoption. The Globe's Mark Rendell and Irene Galea write that in a recent speech, Ron Morrow, BOC's executive director of payments, noted that Canada lags behind other countries in establishing such regulations. Meanwhile, the U.S. has passed the GENIUS Act, which creates a framework for stablecoin regulation, including collateral rules and consumer protection measures. Mr. Morrow said at a conference in Ottawa: "Governments are moving to regulate stablecoins and other cryptocurrencies so consumers can reap their benefits and be protected from credit and liquidity risks. In fact, many jurisdictions worldwide either have, or will soon have, a regulatory framework for cryptoassets." Canada, he said, should "weigh the merits of federal stablecoin regulation, similar to what other countries have done." He called on federal and provincial regulators to "work quickly and collaboratively to evolve our regulatory frameworks." To date, stablecoins have mainly been used to facilitate speculative trading.