Canada’s latest guidance on tokenized deposits could be an important step for blockchain-based banking.
OSFI says tokenized deposits are not legally distinct from traditional deposits. The important point is that regulators are looking at the financial product itself rather than simply the technology behind it.
This could make tokenization easier to integrate into the existing financial system.
$XLM $ALGO $HBAR #CanadaOSFISaysTokenizedDepositsEqualTraditionalDeposits
OSFI says tokenized deposits are not legally distinct from traditional deposits. The important point is that regulators are looking at the financial product itself rather than simply the technology behind it.
This could make tokenization easier to integrate into the existing financial system.
$XLM $ALGO $HBAR #CanadaOSFISaysTokenizedDepositsEqualTraditionalDeposits