OSFI – Published consultation on the prudential treatment of crypto asset exposures

July 5, 2021 – To bring awareness to international consultations on the prudential treatment of crypto assets. The consultation sought views from all federally regulated financial institutions (FRFIs).

Prudential Treatment Crypto Asset Exposures
Agency reported a significant growth in crypto assets globally over the past few years.
Regulators began analyzing risks as well as potential prudential framework adjustments. Reported on BCBS banking supervision consultation paper, which proposed differentiated prudential treatment that categorized the crypto assets into two groups. Requested feedback on both the BCBS consultation and questions listed within Annex. Stated that OSFI is concurrently starting to consider a prudential framework on crypto assets.

Effectiveness
Feedback from domestic institutions on consultation questions is due by September 30, 2021. Urged institutions to provide comments directly on the BCBS’s consultation by September 10, 2021.

For more information, visit www.osfi-bsif.gc.ca.

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