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Canada’s Crypto Crackdown: Can Transparency Safeguard Country’s Financial System?

Canadian regulators have initiated a consultation process focused on the public disclosure of crypto-asset exposures by federally regulated financial institutions (FRFIs). This development comes at a time when digital innovation is rapidly transforming the financial landscape. New forms of transactions and value management, but also bring forth potential risks to the stability of the financial system. The recent events in the cryptocurrency market have highlighted the dangers posed by unregulated financial innovations. In response, the Office of the Superintendent of Financial Institutions (OS…