The Office of the Superintendent of Financial Institutions (OSFI) of Canada states that it adopts a technology-neutral stance on authorized businesses and activities of financial institutions. Tokenized deposits and other digital deposits are legally indistinguishable from traditional deposits. OSFI requires financial institutions and their representatives to comply with applicable laws and regulations when conducting relevant innovative businesses, and abide by guidance documents including B-13 Technology and Cyber Risk Management and B-10 Third-Party Risk Management. Before launching new products or services, financial institutions shall communicate in advance with OSFI supervisors and seek legal advice when necessary.