🇨🇦 In Canada, tokenized bank deposits have been granted the status of ordinary deposits.
The Canadian banking regulator OSFI has published new guidance on tokenized deposits and final rules for banks operating with cryptoassets.
• A tokenized deposit will be considered a legally ordinary bank deposit.
• Banks will be able to create deposit products based on blockchain without the need to introduce a new regulatory regime.
• Existing requirements and governance rules for technology and cyber risks will apply to tokenized deposits.
• Banks will be allowed to account for part of hedging positions on regulated exchanges when assessing the risk associated with cryptoassets.
• Derivatives arising in the course of client clearing will be excluded from the limit on the most risky cryptoassets.
• Technology, operational, and cyber risk requirements will remain in force.
$XRP
$ONDO
$USDC
The Canadian banking regulator OSFI has published new guidance on tokenized deposits and final rules for banks operating with cryptoassets.
• A tokenized deposit will be considered a legally ordinary bank deposit.
• Banks will be able to create deposit products based on blockchain without the need to introduce a new regulatory regime.
• Existing requirements and governance rules for technology and cyber risks will apply to tokenized deposits.
• Banks will be allowed to account for part of hedging positions on regulated exchanges when assessing the risk associated with cryptoassets.
• Derivatives arising in the course of client clearing will be excluded from the limit on the most risky cryptoassets.
• Technology, operational, and cyber risk requirements will remain in force.
$XRP
$ONDO
$USDC
