; (iii) the consensus mechanism of the asset; (iv) the governance structure of the asset; (v) the participation and distribution of the asset; (vi) the current and proposed functionality of the asset; (vii) the legal classification of the asset; and (viii) any other factor required by the Commission. (4) Treatment of customer assets (A) Required standards and procedures A registered crypto asset exchange shall establish standards and procedures that are designed to protect and ensure the safety of customer money, assets, and property. (B) Holding of customer assets (i) In general A registered crypto asset exchange shall hold customer money, assets, and property in a manner to minimize the customer’s risk of loss of, or unreasonable delay in the access to, the money, assets, and property. (ii) Segregation of funds (I) In general A registered crypto asset exchange shall treat and deal with all money, assets, and property of any customer received as belonging to the customer. (II) Commingling prohibited Money, assets, and property of a customer described in subclause (I)— (aa) shall be separately accounted for; and (bb) shall not be— (AA) commingled with the funds of the registered crypto asset exchange