Share this article
Canadian Regulator Seeks Feedback on Disclosure Rules for Bank Crypto Exposures
The country hopes to align local requirements with those proposed by international banking regulators.
Updated Mar 8, 2024, 5:25 p.m. Published Nov 21, 2023, 9:19 a.m.
Canada's Office of the Superintendent of Financial Institutions (OSFI) is seeking feedback on disclosure requirements for local banks and insurers exposed to crypto, according to a Monday notice.
The consultation complements another on the same subject underway by international standard-setter, the Basel Committee on Banking Supervision (BCBS).
STORY CONTINUES BELOW
"We are running our consultation in parallel. We intend to combine your feedback with developments coming out of the BCBS. This will help us articulate public disclosure expectations appropriate for banks and insurers in Canada," the OSFI said.
The Canadian regulator wants to know which technical aspects of the BCBS requirements should be adjusted to fit a local context and key considerations for ensuring "proportionality of disclosures."
The BCBS has said banks must disclose any exposure to crypto and has proposed the highest possible risk weight of 1250% for volatile assets like bitcoin.
The public can submit comments on the requirements to OSFI until Jan. 31, 2024.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Small Texas Lender Monet Joining Field of Crypto-Focused Banks
The bank is owned by billionaire Andy Beal, a major supporter of U.S. President Donald Trump's 2016 campaign.
Top Stories
