Canada has announced significant updates to its crypto custody regulations, marking an important shift for digital asset platforms operating in or connected to the region.
Under the new framework, crypto platforms are required to clearly disclose where and how user assets are stored. The rules emphasize institutional-grade security standards and place stronger accountability on service providers in the event of asset loss.
Key highlights include:
Greater transparency around asset custody and storage
Reduced reliance on single-key custody models
Increased use of third-party or qualified custodians
Clear legal responsibility for safeguarding client assets
These measures aim to strengthen user protection, improve trust in crypto platforms, and align the industry more closely with traditional financial compliance standards. While this may increase operational costs for platforms, it also signals Canada’s push toward a more secure and transparent crypto ecosystem.
Disclaimer: This content is for informational purposes only and does not constitute financial advice.
