CIRO unveils new crypto custody framework for Canadian trading platforms
In a bid to respond more “quickly to crypto failures,” such as the collapse of QuadrigCX, Canada’s top investment industry regulator rolled out a new digital asset custody rules tightening standards on digital asset custody.
The industry-led Canadian Investment Regulatory Organization (CIRO) said its new Digital Asset Custody Framework is designed to allow it to respond more quickly to risks, including hacking, fraud, weak governance and insolvencies that have left investors exposed in past incidents.
“Many of the expectations in the framework were developed in close consultation with [crypto-asset trading platforms] and their custodians and reflect practices already in place,” a CIRO spokesperson told CoinDesk, adding that…
