Canada's OSFI confirms tokenized deposits share legal status with traditional deposits

The Office of the Superintendent of Financial Institutions (OSFI) in Canada stated that tokenized deposits are legally indistinguishable from traditional deposits. The regulator maintains a technology-neutral stance, emphasizing that the legal nature of financial products depends on their substance rather than their implementation. Financial institutions must comply with existing regulations and risk management guidelines when launching such products and are required to consult with regulators beforehand.