MSB registration — virtual currency dealing in Canada

About This Company

Virtual currency dealing requires FINTRAC registration in Canada. Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, in force from 2001-10-28, this registration permits virtual asset exchange and virtual asset transfer. The registration also covers money remittance, foreign exchange dealing and crowdfunding platforms. Statutory initial capital is CAD 0, and FINTRAC charges CAD 0 in application or annual fees. No international passporting exists. Registration remains valid across all 10 Canadian provinces and 3 territories solely for federal anti-money-laundering purposes under the PCMLTFA. Individual provinces can enforce their own regulatory regimes. For example, Quebec imposes separate licensing under the Money Services Businesses Act administered by Revenu Québec / AMF. Provincial securities regulators separately oversee cryptocurrency trading platforms under their own provincial requirements. Foreign MSBs without Canadian premises can serve Canadian residents cross-border, provided they maintain a local representative for service. Retail payment activities involving end-user funds fall under the Bank of Canada's Retail Payment Activities Act and require holding funds in trust. Before signing, the buyer should check the company's registered activities on the public registry. Official rules prohibit marketing this registration as a licence or endorsement from the Government of Canada.