FINTRAC MSB registration in Canada

About This Company

The registration behind this company is a money services business (MSB) registration with FINTRAC, issued under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, which has been in force since 28 October 2001. Its official scope is foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services. On the activity side, the registration type takes in crowdfunding services and virtual asset transfer alongside remittance and currency exchange. A separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians. The authorisation is domestic and does not passport, and individual provinces may add separate provincial registration or licensing. It is granted to one specific legal entity. FINTRAC states that the registration is not an endorsement or a licence, and advertising a business as "licensed by FINTRAC" is prohibited. No minimum initial capital applies, and FINTRAC-registered MSBs face no ongoing own-funds, capital-adequacy or solvency ratio requirements. The MSB Registry entry lists the services offered.