Peter Routledge said the Office of the Superintendent of Financial Institutions should rethink its traditionally cautious approach to allow new participants and technology, including cryptocurrency, into the financial system. (Financial Post)

Talking point: Routledge, speaking at an Institute of International Finance webinar, said it’s important to balance innovation with resilience in Canada’s banking sector. He suggested OSFI might adjust its requirements to encourage crypto and other digital innovation within the existing regulatory framework, rather than allowing players in those spaces to operate outside the established system, where they’re less easily monitored. OSFI is taking a “first, do no harm” approach to innovation to ensure regulation doesn’t stifle potential benefits of new technologies.