The Globe and Mail reports in its Tuesday edition that the Stablecoin Act has been enacted, providing a federal framework for government-backed stablecoins and categorizing them as payment instruments instead of securities. The Globe's guest columnist Eric Richmond writes that the law is a major achievement for financial innovation in Canada. It is already having an effect on the rest of the market. Canada's Big Six banks recently announced a joint effort to build shared infrastructure for tokenized deposits after a ruling by the Office of the Superintendent of Financial Institutions that such deposits -- those issued on a blockchain -- are legally equivalent to traditional deposits. But for the most part, if you want to launch a digital assets-related business in Canada in 2026, you'll still run into friction and delays, owing to the contradictory and cumbersome regulation involved. It's now been six months since the act became law. Meanwhile, the consultations needed to bring the framework into force will take another two months. We re dragging our feet while the United States, European Union and Britain press ahead with similar laws. Mr. Richmond says the state of crypto regulation remains fragmented across the country.