[Canadian Financial Regulator Recognizes Tokenized Deposits as Having the Same Legal Status as Traditional Deposits] Odaily Planet Daily News: The Office of the Superintendent of Financial Institutions (OSFI) is Canada's banking regulatory authority. The agency stated on Thursday that tokenized deposits are legally indistinguishable from traditional deposits, emphasizing that the underlying technology used in financial products or services does not determine their legal nature. OSFI noted that financial institutions can conduct tokenized deposit business under existing financial regulatory laws without the need for additional regulatory provisions. Financial institutions and third parties acting on their behalf must ensure that their operations comply with applicable laws and regulations. OSFI requires financial institutions to communicate with the responsible OSFI supervisor before launching new products or services and recommends seeking legal advice prior to rollout. The agency oversees nearly 350 financial institutions and 1,200 pension plans. (Bitcoin.com News)