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ARTICLE · 05 MARCH 2026

CIRO's Digital Asset Custody Framework: Institutionalizing Crypto Custody In Canada

Osler, Hoskin & Harcourt LLP
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On February 3, 2026, Canadian Investment Regulatory Organization released a notice outlining digital asset custody requirements...

CanadaTechnology
Matthew T. Burgoyne
Matthew T. Burgoyne
Adam Withers
Adam Withers
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Key Takeaways

  • On February 3, 2026, Canadian Investment Regulatory Organization released a notice outlining digital asset custody requirements for dealer members operating crypto-asset trading platforms in Canada.
  • The framework mandates that digital assets be held by approved custodians and differentiates between crypto assets and tokenized versions of traditional assets.
  • Canadian Investment Regulatory Organization introduces a tiered model for custodians based on their capacity to manage risks, with specific requirements for both crypto and tokenized asset custodians.

Introduction

On February 3, 2026, the Canadian Investment Regulatory Organization (CIRO) released a notice (the notice) outlining requirements for the custody of digital assets by CIRO dealer members (dealer members) operating crypto-asset trading platforms (CTPs) in Canada. This framework was developed through an iterative and consultative process involving key stakeholders, with

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