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ARTICLE · 07 JULY 2021

OSFI Consultation On Prudential Treatment Of Cryptoasset Exposures

McCarthy Tétrault
McCarthy Tétrault
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On June 10, 2021, the Basel Committee on Banking Supervision (the "Basel Committee") released a public consultation paper on the prudential treatment of cryptoasset exposures (the "Report")...

CanadaTechnology
TechLex Blog
TechLex Blog
Ana Badour
Ana Badour
Gabriel Rincon (Summer Student)
Gabriel Rincon (Summer Student)
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On June 10, 2021, the Basel Committee on Banking Supervision (the "Basel Committee") released a public consultation paper on the prudential treatment of cryptoasset exposures (the "Report"), which we previously discussed in a separate blog post. In the Report, the Basel Committee proposed a framework for the prudential treatment of cryptoassets and requested feedback on the proposal.

On July 5, 2021, the Office of the Superintendent of Financial Institutions ("OSFI") published a letter (the "Letter") highlighting the Report to Canadian federally regulated financial institutions ("FRFIs") and requesting feedback from FRFIs on the consultation questions raised in the Report and additional related questions. Comments on the Letter are due to OSFI September 30, 2021. In addition, OSFI also encouraged Canadian FRFIs to provide comments directly to the Basel Committee on the Report, which are due September 10, 2021.

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