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Mike Belshe: Canada introduces crypto custody rules to prevent QuadrigaCX repeat

Mike Belshe: Canada introduces crypto custody rules to prevent QuadrigaCX repeat
Canada introduces crypto custody rules

Canada has rolled out comprehensive crypto custody regulations aimed at preventing incidents like QuadrigaCX's $123 million vanishing, according to Mike Belshe. Key measures include segregated client assets, mandatory third-party audits, bankruptcy protection, and risk-based custody tiers. Belshe noted that BitGo established similar protocols a decade ago.

Belshe's assessment of Canada's regulatory progress reflects broader industry strategies for safeguarding digital assets, an area where BitGo has broadened its reach through initiatives such as its recent partnership with Yzilabs, further underscoring the firm's commitment to expanding secure custody solutions in the evolving crypto landscape.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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