Canadian financial regulatory authority: Tokenized deposits have the same legal status as traditional deposits

According to a statement issued by the Office of the Superintendent of Financial Institutions (OSFI) on September 10, 2026, OSFI clarified its technology-neutral position, stating that tokenized and other digital deposits are legally indistinguishable from traditional deposits, and that the underlying technology of a financial product or service does not determine its legal nature. OSFI requires financial institutions to ensure that innovation activities (including those conducted by third parties on their behalf) comply with applicable laws and regulations, and to adhere to guidelines such as B-13 Technology and Cyber Risk Management and B-10 Third-Party Risk Management. Prior to launching any new products or services, financial institutions must communicate in advance with OSFI supervisors and seek legal advice when necessary.