Canada proposes new capital guidelines for crypto holdings

Canada’s monetary watchdog is proposing adjustments to its capital and liquidity method to crypto belongings, based on an announcement on July 26. In line with the Workplace of the Superintendent of Monetary Establishments (OSFI), the proposed guidelines will simplify establishments’ method to perceived crypto dangers, defining 4 classes of crypto belongings and their capital remedy.

OSFI is opening public consultations on two draft tips till Sept. 20. One of many tips impacts federally regulated deposit-taking establishments, similar to banks and credit score unions, whereas one other addresses the regulatory capital remedy of crypto-asset publicity for insurers.

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