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ARTICLE · 07 FEBRUARY 2023

Cryptocurrency As Collateral In Canada: Issues For Lenders To Consider

Osler, Hoskin & Harcourt LLP
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Cryptocurrency is a digital alternative to traditional currency. It exists entirely online, meaning there is no need for physical cryptocurrency bank notes or coins. Cryptocurrency is not issued or produced...

CanadaTechnology
Joyce Bernasek
Joyce Bernasek
Matthew T. Burgoyne
Matthew T. Burgoyne
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Cryptocurrency is a digital alternative to traditional currency. It exists entirely online, meaning there is no need for physical cryptocurrency bank notes or coins. Cryptocurrency is not issued or produced by a government or central bank. Rather new cryptocurrencies are created via technology that is used by thousands of international volunteers who "mine" or generate new cryptocurrencies through the use of their computers. With the prevalence of cryptocurrency, borrowers are increasingly seeking to use this digital alternative as collateral in lending transactions. This Update addresses several issues for lenders when considering whether to accept cryptocurrency as collateral in secured financing transactions.

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