{"id":"advancing-digital-transformation-financial-system","slug":"advancing-digital-transformation-financial-system","title":"Advancing the digital transformation of the financial system","chapter":1,"section":"1.5","section_title":"Strengthening competition","heading":"Advancing the digital transformation of the financial system","in_cost_table":true,"capital":false,"fiscal":{"unit":"CAD millions","basis":"accrual, incremental impact on budgetary balance (expense or forgone revenue)","years":["2026-27","2027-28","2028-29","2029-30","2030-31"],"gross":[0.0,0.0,0.0,0.0,0.0],"gross_total":1.0,"flags":["under_half_million","under_half_million",null,null,null],"adjustments":[],"net":[0,0,0,0,0],"net_total":1.0,"table":{"pdf_page":161,"printed_page":151}},"description":null,"commitments":[{"text":"Building on these foundational reforms, Budget 2026 announces the government's intention to: Launch the next phase of Canada's payments modernisation, guided by a public consultation expected in early 2027 on future priorities and the statutory review of the Canadian Payments Act.","pdf_page":159,"printed_page":149,"quote":"Building on these foundational reforms, Budget 2026 announces the government's intention to: Launch the next phase of Canada's payments modernisation, guided by a public consultation expected in early 2027 on future priorities and the statutory review of the Canadian Payments Act."},{"text":"To that end, Budget 2026 announces the government's intention to: Require federally regulated financial institutions to issue stablecoins through non-financial institution subsidiaries regulated under the Stablecoin Act and extend the Stablecoin Act to foreign financial institutions that are not prudentially regulated in Canada, to promote consistent regulatory treatment across stablecoin issuers.","pdf_page":160,"printed_page":150,"quote":"To that end, Budget 2026 announces the government's intention to: Require federally regulated financial institutions to issue stablecoins through non-financial institution subsidiaries regulated under the Stablecoin Act and extend the Stablecoin Act to foreign financial institutions that are not prudentially regulated in Canada, to promote consistent regulatory treatment across stablecoin issuers."}],"amounts_in_text":[],"source":{"pdf_page":159,"printed_page":149,"chapter_url":"https://budget.canada.ca/2026/report-rapport/chap1-en.html"},"money_type":"spending","involves_loans":false,"lenses":["businesses","ai-digital"],"url":"https://budget2026.warreandvavasour.com/measures/advancing-digital-transformation-financial-system/","chapter_title":"Canada's Investment Supercycle"}