In light of the rapid increase in the number and types of crypto-assets and the risks of market volatility, regulators around the world are constantly analyzing the risks associated with exposure of financial institutions to crypto assets. These risks include liquidity, credit and Know-Your-Customer/Anti-Money-Laundering (AML/KYC) risks. On July 5, 2021, the Office of the Superintendent of Financial Institutions (OSFI) published a letter to Federally Regulated Financial Institutions (FRFIs) requesting their feedback on the prudential treatment of crypto asset exposures. This article highlights the core contents of the OSFI request letter to FRFIs.

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Tracy Molino

About Tracy Molino

Tracy Molino is counsel in our Banking and Finance group. Tracy has extensive experience with payments law and technology, bank regulatory and policy matters, and consumer protection issues.

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Angela Shaffer

About Angela Shaffer

Angela Shaffer is Counsel in Dentons’ Banking and Finance group, and brings more than thirty years of experience advising financial institutions and their boards of directors on strategic, regulatory, corporate, commercial, securities, transactions, anti-money laundering, CASL, employment and corporate governance matters.

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