🔔Canada's investment regulator CIRO launches new digital asset custody framework, adopting a tiered, risk-based regulatory model
According to Mars Finance, Canada's investment regulator CIRO recently released a new digital asset custody framework aimed at strengthening the regulation of crypto asset custody methods and improving investor protection.
The framework draws on lessons learned from past events such as the collapse of QuadrigaCX, focusing on preventing hacking, fraud, weak corporate governance, and bankruptcy risks. According to the guidelines, the new framework establishes a tiered, risk-based custody structure, allowing for compliance innovation while imposing differentiated regulatory requirements on different custody models.
CIRO stated that as custody methods and cybersecurity risks continue to evolve, the regulator will continuously update the framework to adapt to new industry developments.