Canada's bank regulator (OSFI) just said tokenized deposits are "not legally distinct" from regular bank deposits.
translation: banks have wanted to put deposits on-chain for a while now, tech's been ready. the thing actually holding it up was regulators just... never clearly saying what these things legally ARE. no clear answer = no bank touching it, too much legal risk.
Canada just removed that excuse. same rules, no new framework, just "this counts as a normal deposit, go ahead."
this is the boring-sounding stuff that actually matters, this is a literal door opening for real banks to start building on-chain instead of just talking about it in press releases
curious if US/EU regulators follow suit or if Canada's just built different rn.
submitted by /u/bitNomad22[link] [comments]