The federal government tabled highly anticipated legislation on open banking and stablecoins—crypto assets pegged to the value of a government-issued currency, like the dollar—in Parliament Tuesday, the day after releasing a first look at the new laws that detail how the frameworks will operate and be enforced. (The Logic)

Talking point: Ottawa is moving quickly on two files with major implications for financial competition and innovation—a significant change from how it’s historically operated. Open banking, which will require banks to provide financial data to third parties to power payments and services at a customer’s request, has faced repeated delays since Ottawa started the process seven years ago. Canada’s crypto industry has long advocated for stablecoins to be regulated as payment instruments instead of securities. Under Prime Minister Mark Carney, the federal government announced the measures in the administration’s first budget, released a preview of the legislation the same day the budget passed, and tabled the full version the next day.