According to CoinMeta, the Canadian financial regulatory agency OSFI stated that under the legal framework for federal financial institutions, the legal nature of financial products and services depends on the product itself rather than the method of implementation. When financial institutions launch innovative products such as tokenized and digital deposits, they must comply with current laws and regulations, as well as guidelines on B-13 technology and network risk management, and B-10 third-party risk management. They are also required to communicate with regulatory authorities and obtain legal advice before launching these products.