MSB registration — virtual currency dealing in Canada

About This Company

Sections 5(h) and 5(h.1) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act establish the statutory basis for this virtual currency registration. Incorporated in 2025, the company holds an authorisation running to October 2029, but no bank account is attached. Statutory capital rules set initial paid-up capital at CAD 0, and FINTRAC imposes CAD 0 in application or annual supervisory fees. Ongoing financial maintenance does not require capital adequacy buffers or ongoing solvency reserves. Regulatory obligations centre entirely on compliance conduct, requiring written anti-money-laundering policies and biennial independent programme reviews under PCMLTFR s. 156. Operating status remains subject to two-year renewal cycles, requiring renewal submissions before expiry to avoid automatic lapse into unlawful trading. Any change regarding corporate directors, business addresses or 20% controllers must be formally reported to FINTRAC within 30 days. Marketing rules prohibit describing the entity as licensed by FINTRAC or endorsed by the Canadian government. Because no bank account accompanies the transfer, the buyer must apply separately to commercial banks for corporate treasury facilities. Reviewing compliance audit records and public register entries in Ottawa verifies that historical filings remain current.