According to CoinMeta, the Canadian financial regulatory agency OSFI announced that tokenized deposits are not legally different from traditional bank deposits, a decision that removes a major obstacle for blockchain-based banking services. OSFI stated that the legal nature of tokenized deposits is the same as that of traditional deposits, and banks still need to follow existing technical and network security regulations when developing these products. This move may enhance banks' confidence in developing blockchain-based deposit products and also provides federal regulators with clearer rules.