Crypto Rules, Job Freedom and a budget reset

Bill C-31 is the second law needed to put the 2025 federal budget into effect. It does four big things. It creates federal rules for stablecoins and payment services. It requires crypto platforms to report customer transactions to the Canada Revenue Agency. It bans most non-compete clauses that stop workers from joining competitors. It restructures the Canadian Human Rights Commission. It also enacts a list of smaller tax changes from the budget.

Crypto exchanges and their Canadian users will face new reporting paperwork. Stablecoin issuers will need to follow a federal framework. Workers gain more freedom to switch jobs, while employers lose a common contract tool. People who file human rights complaints could see changes in how cases are handled. Taxpayers affected by the budget measures will see adjustments at filing time.

Stablecoin issuers and payment service providers will operate under a defined federal regime. Crypto platforms must collect and share user transaction data under the international Crypto-Asset Reporting Framework. Employment contracts with non-compete clauses will largely be unenforceable, with limited exceptions. The Canadian Human Rights Commission's internal structure and processes will be reorganized. Various tax rate, credit, and threshold updates from Budget 2025 take legal effect.

The bill was introduced at First Reading on May 7, 2026. It still needs Second Reading debate, committee study, Third Reading, Senate approval, and Royal Assent before becoming law. Budget implementation bills typically move through Parliament over several months.