Canada is set to unveil new stablecoin regulations in its federal budget next week, according to sources familiar with the discussions. Canadian Finance Minister Francois-Philippe Champagne is expected to address these regulations in the budget document scheduled for release on November 4th. The move follows weeks of intensive talks between government officials, regulators, and industry stakeholders. The anticipated regulatory framework comes as Canada seeks to clarify the status of stablecoins, which regulators have previously suggested could be classified as securities or derivatives. This development mirrors the United States' recent Genius Act, which mandates oversight of stablecoin issuers and their reserve management, aiming to prevent financial crimes. The Canadian crypto industry is closely watching these developments, as they could significantly impact how stablecoins are managed and regulated in the country.