The Office of Superintendent of Financial Institutions (OSFI) in Canada has introduced rules for banks to manage their exposure to cryptocurrency as interest in digital assets increases in the country. The OSFI's guidelines require banks to consider crypto assets on their balance sheets as well as the exposure of their customers. The move comes as the adoption of digital assets, such as Bitcoin, is growing in Canada. The OSFI believes that while the current risk is relatively low, there is a need for increased oversight as activity in the cryptocurrency market is rapidly accelerating.



Other News from Today