加拿大稳定菌的采用缓慢使一些当地加密行业观察者担心该国正在落后。

加拿大证券管理员（CSA）在2022年12月在FTX崩溃之后，将Stablecoins分类为“证券和/或衍生品”

The slow adoption of stablecoins in Canada has some local crypto industry observers concerned that the country is falling behind.

加拿大稳定菌的采用缓慢使一些当地加密行业观察者担心该国正在落后。

Canadian Securities Administrators (CSA) classified stablecoins as “securities and/or derivatives” in December 2022 after the FTX debacle that shook markets and turned many lawmakers against the crypto industry.

加拿大证券管理员（CSA）在2022年12月在FTX崩溃而震惊市场并将许多立法者反对加密货币行业的FTX崩溃之后，将StableCoins归类为“证券和/或衍生品”。

Regulating stablecoins as a security has seen few local stablecoin issuers arise, but in the United States and the European Union, softening regulations have seen significant growth in the stablecoin market. This makes Canada, observers say, less competitive with other jurisdictions. Of particular concern is the perceived gap in peer-to-peer (P2P) payments in Canada, which stablecoins are uniquely qualified to fill.

监管Stablecoins作为安全性，很少有当地的Stablecoin发行人出现，但是在美国和欧盟，软化法规在Stablecoin市场中的增长显着增长。观察家说，这使加拿大与其他司法管辖区的竞争力较低。特别令人担忧的是，加拿大的点对点付款差距（P2P）的差距是稳定的，这是有特殊资格填补的。

Local law constrains stablecoin growth and threatens dollar

地方法限制了稳定的增长并威胁美元

In 2022, as the crypto market reeled from the collapse of FTX and the implosion of the Terra stablecoin system, regulators worldwide began to look more critically at the crypto space.

2022年，由于加密货币市场因FTX的崩溃和Terra Stablecoin系统的内爆而引起了人们的看法，全球监管机构开始更加批判地看待加密货币空间。

In Canada, the CSA updated regulations for crypto exchanges and brought stablecoins under its purview, classifying them as securities/derivatives. This hasn’t been a popular decision with Canada’s crypto industry.

在加拿大，CSA更新了有关加密交易所的法规，并将稳定的股份带入其权限下，将其归类为证券/衍生产品。对于加拿大的加密货币行业来说，这并不是一个流行的决定。

Morva Rohani, founding managing director of the Canadian Web3 Council, said that the CSA’s case-by-case basis for considering stablecoin issuers and the lack of a federal framework make for a “patchwork” regulatory regime.

加拿大Web3委员会的创始董事总经理莫尔瓦·罗哈尼（Morva Rohani）表示，CSA逐案的基础是考虑Stablecoin发行人，并且缺乏联邦框架可以实现“拼凑的”监管制度。

“Canada’s reliance on securities law to regulate payment stablecoins introduces significant legal and operational uncertainty,” she said.

她说：“加拿大依靠证券法规范付款稳定的股家事带来了严重的法律和运营不确定性。”

Tanim Rasul, chief operating officer of Canadian crypto exchange NDAX, said that the CSA “got it wrong,” stating that other regulatory frameworks, like the EU’s Markets in Crypto-Assets (MiCA) law, were more appropriate.

加拿大加密货币交易所NDAX首席运营官Tanim Rasul说，CSA“弄错了”，称其他监管框架，例如加密货币（MICA）法律的欧盟市场，更合适。

“I would just say, look at MiCA, look at the way they’re approaching stablecoins. It’s a payment instrument. It should be regulated as such,” he told a crowd at the Blockchain Futurist Conference in Toronto on May 13.

他在5月13日在多伦多举行的区块链未来主义会议上对人群说：“我只是说，看一下云母，看看他们接近Stablecoins的方式。这是一种支付工具。”

It’s not just the EU. Singapore and the UAE have also introduced regulatory frameworks for stablecoins, and US senators are optimistic they will pass a stablecoin law by May 26.

这不仅仅是欧盟。新加坡和阿联酋还引入了针对稳定的监管框架，美国参议员很乐观，他们将在5月26日之前通过一项Stablecoin法律。

Rohani said Canada is “out of step with leading global jurisdictions [...] which have adopted tailored, prudential frameworks that recognize stablecoins as payment instruments.”

罗哈尼（Rohani）说，加拿大“与已量身定制的审慎框架的全球领先司法管辖区相距甚远，这些框架将稳定的框架承认为付款工具。”

This lack of alignment with other, more pro-stablecoin jurisdictions could have negative effects for the Canadian dollar (CAD), some worry.

与其他更加亲切的司法管辖区缺乏一致性可能会对加拿大美元（CAD）产生负面影响，有些担心。

Som Seif, founder of Canadian investment firm Purpose Financial, said that the proliferation of other major stablecoins, mostly denominated in the US dollar, could threaten the use of the loonie (a nickname for the Canadian dollar) at home.

加拿大投资公司目的财务公司的创始人SOM SEIF表示，其他主要以美元计价的其他主要稳定币的扩散可能威胁到在家中使用Loonie（加拿大美元的昵称）。

“If Canada does not create the regulatory framework and environment that encourages the development of CAD stablecoins, consumers and businesses will default to using USD-pegged alternatives, eroding the relevance of CAD in global markets,” he said.

他说：“如果加拿大没有创建鼓励CAD Stablecoins开发的监管框架和环境，那么消费者和企业将默认使用美元固定的替代方案，从而削弱了CAD在全球市场中的相关性。”

Stablecoins provide cheaper P2P payments but reputation is also a roadblock

Stablecoins提供便宜的P2P付款，但声誉也是障碍

Members of the Canadian crypto industry have stated that stablecoins have a role to play in the country as well, given the purported lack of P2P payment networks available in the country.

加拿大加密货币行业的成员表示，鉴于该国据称缺乏P2P支付网络，Stablecoins在该国也可以发挥作用。

Speaking to Cointelegraph on May 13, Coinbase Canada CEO Lucas Matheson said, “It’s really important that we have a stablecoin for Canadians.” He said that the only options currently open were wire transfers, which “cost $45 and take 45 minutes of paperwork.”

Coinbase Canada在5月13日在Cointelegraph上发表讲话时，首席执行官Lucas Matheson说：“我们为加拿大人有一个稳定的人，这一点非常重要。”他说，目前唯一开放的选择是电汇，“花费45美元，需要45分钟的文书工作”。

Rohani said that Interac e-Transfer, a Canadian funds transfer service, “remains the primary domestic P2P rail, operating through banks and credit unions.”

罗哈尼（Rohani）表示，加拿大基金转移服务Interac E-Transfer“仍然是主要的国内P2P铁路，通过银行和信用合作社运营。”

Canada does have apps like PayPal and Wise, which support international P2P transfers, but those often come with high commissions and slow settlement times compared to stablecoins.

加拿大确实有PayPal和Wise等应用程序，这些应用程序支持国际P2P转移，但与Stablecoins相比，这些应用程序通常具有高佣金和缓慢的和解时间。

Rohani said that while some crypto platforms allow for P2P transfers, they’re not widely used due to a lack of integration into mainstream financial services.

罗哈尼（Rohani）说，尽管一些加密平台允许P2P转移，但由于缺乏与主流金融服务的集成，它们并未被广泛使用。

Demand for more and different digital payment methods is growing in Canada, according to the 2024 digital payments report from Payments Canada, the owner and operator of Canada’s payment clearing and settlement infrastructure.

根据加拿大付款清算和和解基础设施的所有者和运营商，加拿大的2024年数字支付报告，加拿大对更多和不同的数字支付方式的需求正在增长。

But that demand may not translate directly into stablecoins. Crypto’s “journey towards financial integration among Canadians remains a distant prospect,” the report reads. Some 91% of Canadians have never used crypto as a payment.

但是，这种需求可能不会直接转化为稳定的。该报告写道，加密货币“加拿大人之间的财务融合之旅仍然是一个遥远的前景”。约91％的加拿大人从未使用加密货币作为付款。

Payments Canada attributes the lack of interest to the assets being perceived as the “least secure payment method among Canadians compared to alternatives such as cash, credit cards, cheques, wire transfers and PayPal.”

加拿大的付款将缺乏利息归因于被认为是“加拿大人中最不安全的付款方式相比，与现金，信用卡，支票，电汇和贝宝等替代品相比”。

Even in the context of a central bank digital currency, which the crypto industry generally regards as a less favorable option to private, fiat-denominated stablecoins, interest just isn’t there. The survey found that 85% of respondents “did not envision themselves using a digital Canadian dollar and

即使是在中央银行的数字货币的背景下，加密货币通常将其视为私人，菲亚特计价的Stablecoins的不利选择，而利息也不存在。调查发现，85％的受访者“没有使用数字加拿大美元设想自己