Odaily Planet Daily News According to an official announcement, the Canadian Monetary Authority (OSFI) proposed to change its capital and liquidity program for encrypted assets to reflect the changing risk environment and international developments.
OSFI today announced two draft guidelines on the regulatory capital treatment of cryptoasset risk, one for federally regulated depository institutions and the other for insurance companies.
The Basel Committee on Banking Supervision published new banking standards for exposure to crypto assets in December 2022. In response, OSFI took the opportunity to draft this more detailed guidance for Canada.
The two draft guidelines, which will be open for public comment until September 20, 2023, will replace the interim advisory opinion on the regulatory treatment of crypto-asset risks issued in August 2022, and will come into force in early 2025.