The central bank expects to implement a new regulatory framework governing stablecoins—crypto assets pegged to the value of a government-issued currency—in less time than the five years it took to introduce its oversight of payments companies, managing director of supervision Anne Butler said at a Toronto conference Tuesday morning. (The Logic)

Talking point: The Mark Carney-led Liberals broadened the Bank of Canada’s mandate over fintech in their November budget, giving the institution jurisdiction over open banking and stablecoins in addition to non-bank payments companies and the forthcoming Real-Time Rail instant payments system. The U.S. Genius Act, which paves the way for banks and other firms to issue stablecoins, has put pressure on Canada to introduce similar legislation. Butler made the remarks at the Ontario Securities Commission’s annual conference, saying the Liberals’ new majority government should further speed up the process of putting stablecoin regulations in place.