MSB registration — virtual currency dealing in Canada

About This Company

Dating from its incorporation in 2025, this company holds an authorisation that runs to 2028. The Financial Transactions and Reports Analysis Centre of Canada supervises the entity as a money services business for virtual currency dealing. Under PCMLTFR s. 156(1)(a), the business must maintain an appointed compliance officer with direct access to the board of directors. Independent oversight from front-line transaction processing is expected by the supervisor. In accordance with PCMLTFR s. 156(1)(b), written compliance policies and procedures must remain approved by a senior officer. Documented risk assessments under s. 156(1)(c) and ongoing training plans under s. 156(1)(d) form mandatory substance requirements that the buyer must keep active. Regarding governance personnel, PCMLTFA s. 11.11 requires FINTRAC to assess the criminal eligibility of the chief executive officer, president, all directors, and every party holding 20% or more ownership. Criminal record checks issued within 6 months by competent authorities must be submitted for each qualifying controller to confirm no convictions exist for money laundering or fraud. Following closing, the company must submit the official change notification to FINTRAC within 30 days of any ownership transfer. Auditing these compliance appointments and police certificates before signing allows the buyer to confirm continuous operational compliance.