Canada’s New Crypto Rules Change the Math for Banks

Key Takeaways Rules start November 1 for Canada’s big banks. Matched crypto hedges now offset across exchanges. Client clearing no longer counts toward the cap. The 5% cap and collateral limits stay. OSFI finalized the revisions in September, and its implementation letter sets November 1, 2026 as the start for institutions with October 31 year-ends, which include Canada’s six largest banks. Banks with December 31 year-ends follow on January 1, 2027, despite the guideline’s 2027 label. Two limits, two different jobs Banks face two separate constraints on crypto. Capital is the cushion held against losses on a position.