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Canada’s Office of the Superintendent of Financial Institutions seeks feedback on cryptocurrency disclosures

The Office of the Superintendent of Financial Institutions (OSFI) in Canada announced on Monday that it is seeking feedback on the public disclosure of cryptocurrency assets by federally regulated financial institutions, in order to strengthen scrutiny of the volatile industry alongside global regulators. OSFI proposed new guidance for cryptocurrencies in July on the basis of risk environment, followed by consultations. OSFI's consultation will run concurrently with another consultation by the Basel Committee on Banking Supervision (BCBS), a global regulator, which is also seeking feedback from banks on disclosing risks related to cryptocurrency assets.

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