Federal budget signals plans to amend the Retail Payment Activities Act

The Federal Government’s 2025 budget has provided a new framework for digital assets in Canada, which includes new consumer protection measures. Torys counsel Mohammed Muraj spoke to The Globe and Mail about what this means for consumers.

Currently, the Retail Payment Activities Act, which governs the activities of payment service providers like PayPal, does not cover digital assets. “It’s designed to protect consumers by ensuring that funds held by such providers are segregated and shielded from bankruptcy,” Mohammed said.

However, the budget signals plans to amend the Act, which could bring greater regulation to stablecoins and digital assets.

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