Canada strengthens crypto custody rules to prevent another QuadrigaCX

The Canadian Investment Regulatory Organization (CIRO) has announced a new digital asset custody framework to strengthen regulations on how crypto assets are stored. According to CoinDesk, CIRO is introducing new rules with stricter standards for trading platforms to respond more quickly to issues that have endangered investors in the past, including hacking, fraud, and corporate bankruptcies. The agency cited the 2019 collapse of Canadian crypto exchange QuadrigaCX as a key example.