- +1 647-371-0032
- moc.walecnatsbus@nosirrah
- 10 King St E Suite 600, Toronto, ON M5C 1C3
How To Get a Crypto Exchange Licence in Canada
The Crypto Exchange Regulatory Landscape in Canada
How To Get a Crypto Exchange Licence in Canada
The Crypto Exchange Regulatory Landscape in Canada Canada’s approach to regulating cryptocurrency exchanges is a multi-layered system designed to protect investors and prevent financial crime. It’s not a simple one-size-fits-all process, and understanding the different pieces is key. At the federal level, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) plays a significant...
Read The Rest...FINTRAC Ministerial Directives
Directives That Reporting Entities Must Follow In Respect of Iran, North Korea, and Other High Risk Countries Purpose and Scope of Ministerial Directives Ministerial directives are specific instructions issued by the Minister of Finance. They are designed to guide reporting entities, including Money Services Businesses (MSBs) and others, on how to deal with certain financial...
Read The Rest...The “Travel Rule” For MSBs and FINTRAC Regulated Entities
How The FATF Travel Rule Applies in Canada The Genesis Of The Crypto Travel Rule The FATF Travel Rule, often informally referred to as the ‘Crypto Travel Rule’, was introduced in Canada on June 1st, 2021. Its primary aim is to bring virtual currency transactions under the purview of the Proceeds of Crime (Money Laundering)...
Read The Rest...Identity Verification for FINTRAC MSBs and Reporting Entities
FINTRAC Reporting Entities Must Verify IDs In a Particular Manner The Proceeds of Crime (Money Laundering) and Terrorist Financing Act The Proceeds of Crime (Money Laundering) and Terrorist Financing Act, often called the PCMLTFA, is the main law that sets out what certain businesses and individuals in Canada need to do to help fight financial...
Read The Rest...How to Apply For PSP Registration under the RPAA
Retail Payment Activities Act (RPAA) Eligibility and Registration Requirements The Retail Payment Activities Act (RPAA) is a relatively new law in Canada that’s changing how payment service providers (PSPs) operate. It’s all about making sure things are fair, secure, and that consumers are protected when they use payment services. If your business is involved in...
Read The Rest...How to Get a Ready-Made FINTRAC-Registered Money Services Business in Canada
Understanding FINTRAC-Registered Money Services Businesses FINTRAC oversees money services businesses in Canada through specific registration requirements and compliance standards. These businesses offer essential financial services like currency exchange, money transfers, and virtual currency dealings under strict regulatory oversight. Key Services Offered by MSBs Money services businesses provide several core financial services to consumers and businesses....
Read The Rest...What is a Chief Anti Money Laundering Officer (CAMLO)?
Uncover the crucial role of a Chief Anti Money Laundering Officer (CAMLO) in safeguarding financial institutions from illegal financial activities.
Read The Rest...What is FINTRAC?
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) operates under the legislative authority of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated regulations. This foundational legal framework mandates FINTRAC to perform several key functions: the collection and analysis of financial transaction information, and the dissemination of actionable...
Read The Rest...