Lending and margin restrictions take effect Oct. 27, while an on-time application allows existing providers to operate during the central bank's review.
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The Oct. 28 proposal covers four preferred stocks and needs a majority of all outstanding common voting power; abstentions and broker non-votes count against it.
RLUSD will retain its New York-regulated issuer while the national trust bank manages reserves and provides fiduciary digital asset custody.
Ottawa opened a 60-day consultation on draft rules requiring one-to-one reserves and fast redemption from stablecoin issuers, while keeping the ban on paying holders interest.
The change removes an estimated two percentage points of issuance-funded staking APR and freezes about 51.9 million pre-minted developer tokens.
Prop 346 would authorize a one-way AKT token conversion, while staking rewards would end at a later marketplace cutover requiring another vote.
