As the crypto sector increasingly comes under the regulatory umbrella, the Canadian Investment Regulatory Organization (CIRO) is proposing a new fee model to cover the costs of overseeing trading in the fledgling sector. After that, costs are to be allocated to individual firms, “based on their respective activity, measured by executed trades and, where applicable, message volumes.” In the first phase, most firms’ fees are expected to be close to the annual minimum. Currently, the estimated annual costs of crypto oversight is approximately $1 million, it noted. Firms will be able to get initial estimates of their likely fees from CIRO by submitting their crypto trading volume for the past 12 months.