according to informed sources, Canada is currently discussing stablecoin regulatory rules and may announce a major update in the federal budget to be released next week. These sources indicate that government officials have been in deep discussions with regulatory agencies and industry participants for several weeks. It is said that Canadian Finance Minister Shang Pengfei will address this issue in the budget document to be released on November 4. In July of this year, the United States passed the "Genius Act," authorizing financial regulatory agencies to supervise stablecoin issuers and their reserve management methods, and requiring issuers to comply with anti-money laundering and sanctions evasion provisions. This new law has been welcomed by many in the cryptocurrency industry. However, in Canada, due to the lack of relevant legislation, regulatory agencies have indicated that stablecoins may be considered securities or derivatives. Some experts believe that they should be regulated as payment tools and subject to strict supervision.