canada virtual currencies

The Canada Government has amended its anti-money laundering rules, bringing into scope Virtual Asset Service Providers, mainly exchanges. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2019, will now consider both Canadian and foreign virtual exchanges as money servicing businesses (MSBs), which must ‘fulfil all obligations, including implementing a full compliance program and registering with FINTRAC’, the Canadian financial regulator. 

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