Canadian Regulators Require Pension Funds to Disclose Cryptocurrency Exposures

The Canadian government’s new 2023 budget plan requires the country’s federally regulated pension funds to disclose their exposure to crypto assets to the Office of the Superintendent of Financial Institutions (OSFI). The budget plan adds that the federal government will also work with the provinces and territories to discuss the disclosure of crypto assets or related activities by the country’s largest pension plans, which will ensure Canadians understand their pension plans may be exposed to crypto assets. Last year, Quebec-based pension fund Caisse de Depot et Placement du Quebec said it had written down its $150 million investment in Celsius Network, and Ontario Teachers' Pension Plan, one of Canada's largest pension funds, said last year it had written down its investment in FTX. The entire $95 million investment.