🇨🇦 Canada Proposes Updated Crypto Asset Guidelines
#Canada 's financial watchdog, the Office of the Superintendent of Financial Institutions (#OSFI ), is proposing changes to its capital and liquidity approach to crypto assets.
The proposed rules simplify institutions' handling of crypto risks, defining four asset categories and their capital treatment. Public consultations on two draft guidelines are open until Sept. 20, aiming to replace the existing advisory published in Aug. 2022.
The guidelines align with international standards and address the evolving risk environment, including new banking standards for crypto-asset exposure set for Jan. 1, 2025.
The goal is to provide clarity to deposit-taking institutions and insurers on how to treat crypto assets regarding capital and liquidity.
