It would have been hard to write this as an industry spokesperson, and so I’m glad my newfound independence frees me to say the underrated thing in a less esoteric way. Which is: Canada’s Stablecoin Act violates a golden rule of financial-sector policymaking. That doesn’t mean it was the wrong bill to put forward. But there are trade-offs we should hope were carefully considered. The rough and tumble of Ottawa doesn't always spare the luxury.