Wu said that the Canadian securities regulator CIRO has released a digital asset custody framework as a transitional regulatory arrangement, providing clear custody requirements for broker-dealer members operating crypto asset trading platforms in Canada. The framework adopts a risk-based layered system, distinguishing between crypto assets and tokenized financial assets. While maintaining traditional securities custody rules, it introduces core requirements for digital asset custody, including capital, technology and cybersecurity, insurance, legal protections, asset segregation, and custody ratio limits. Additionally, it enhances investor protection through ongoing monitoring and reporting mechanisms to reduce custody, governance, and bankruptcy risks.