Canadian gambling revenue on the rise
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10 October 2026
Justin Trudeau's cabinet unites for a federal overhaul of crypto gambling
Canada's federal government is set to heavily regulate the issuance of all fiat-backed stablecoins, but the lack of corresponding rules around online casinos has led to a regulatory mismatch. Canadians are increasingly playing at offshore crypto gambling platforms, which operate without a provincial gambling licence.
The stablecoin framework was outlined in Budget 2025 and formalised in Bill C-15, which passed in the summer of 2026. It sets stringent requirements for issuers: maintain 1:1 reserves of liquid assets, offer redemption in the reference fiat currency, ensure robust governance and data security, and register with the Bank of Canada. Stablecoins cannot be represented as interest-bearing or legal tender.
But these rules don't authorize crypto casinos. Online gambling remains a key consumer protection gap.
Canadians' money flows into offshore operators that operate in regulatory grey areas.
The Banking System regulator has signaled interest in expanding AML provisions for casinos handling large virtual currency transactions. But this remains a piecemeal approach. Providing a consistent, national consumer-protection framework for digital payments and gambling will take more than the stablecoin issuance alone.