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

TechFlow reports that on September 11, following a statement issued by Canada's Office of the Superintendent of Financial Institutions (OSFI) on September 10, 2026, OSFI clarified its technology-neutral stance, 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 executed on behalf by third parties) comply with relevant laws and regulations, and must adhere to guidelines such as B-13 Technology and Cyber Risk Management and B-10 Third Party Risk Management. Financial institutions must engage with OSFI supervisors in advance before launching any new products or services, and seek legal counsel when necessary.