Canada’s New Crypto Custody Rules Could Force Platforms to Quit “Single Key” Storage and Boost Investor Protection

Canada’s newly proposed cryptocurrency custody regulations may compel digital asset platforms to abandon their reliance on “single key” storage methods, potentially leading to enhanced protections for investors. By enforcing stricter security standards and requiring multi-signature wallets or other more secure storage solutions, these rules aim to reduce the risk of theft and fraud in the cryptocurrency space, ultimately fostering greater trust and safety for individuals engaging in digital asset investments. As a result, this shift could not only secure investors' funds more effectively but also reshape the operational landscape of cryptocurrency exchanges and custodial services within Canada. source: https://blocknews.com/canadas-new-crypto-custody-rules-could-force-platforms-to-quit-single-key-storage-and-boost-investor-protection/