Canada’s Office of the Superintendent of Financial Institutions (OSFI) is consulting on bank disclosures of crypto-assets. It follows a Basel Committee (BCBS) consultation on the same topic launched in October. Crypto-assets include tokenized securities, stablecoins as well as cryptocurrencies.
Last year the Basel Committee issued rules governing bank capital requirements for engaging with crypto. The disclosure requirements are separate and cover how banks report their crypto activities. They have to report twice a year and the Basel Committee provided a series of templates.
Tokenized securities and stablecoins are considered lower risk, provided they meet Basel’s requirements. So quite a bit of the reporting is around why a bank classified securities as low risk.
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