Canada’s OSFI Says Tokenized Deposits Are Legally the Same as Bank Deposits

Canada’s OSFI says tokenized deposits are legally the same as bank deposits

Canada’s banking regulator has clarified that tokenized deposits are not legally different from traditional deposits, giving federally regulated financial institutions a clearer path to develop deposit products using blockchain and other digital technology. The Office of the Superintendent of Financial…

OSFI Clarifies Tokenized Deposits Legal Status

Canada's banking regulator has confirmed tokenized deposits are legally equivalent to conventional deposits under federal financial legislation.

Canada's OSFI allows tokenized deposits, aligning with traditional banking

OSFI's move may boost institutional blockchain adoption in Canada, potentially influencing crypto market dynamics and Bitcoin's future valuation.