Canada Clears Tokenized Bank Deposits Without Creating a New Crypto Rulebook

Canada’s Office of the Superintendent of Financial Institutions issued guidance on Sept. 10 establishing that tokenized bank deposits do not constitute a new category of financial products simply because they utilize blockchain or other digital infrastructure. The regulator stated that the underlying technology used to deliver a financial product does not determine its legal classification.
Under OSFI’s technology-neutral approach, tokenized deposits are legally equivalent to tradit