# Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians) (Canada)

Source page: https://protegra.io/licensing/licences/money-transmitter/canada/

The Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians) is issued by Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The application fee is CAD 0 (no fee).

## At a glance

| Official name | Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians) [1] |
| --- | --- |
| Issued by | [Financial Transactions and Reports Analysis Centre of Canada](https://protegra.io/licensing/regulators/fintrac-canada/) |
| Jurisdiction | [Canada](https://protegra.io/licensing/jurisdictions/canada/) |
| Licence family | [Money transmitter / money services business (MSB)](https://protegra.io/licensing/licences/money-transmitter/) |
| Legal basis | Proceeds of Crime (Money Laundering) and Terrorist Financing Act [2]; Retail Payment Activities Act (administered by the Bank of Canada, a separate regulator, for payment service provider registration alongside FINTRAC's MSB regime) [3] |
| Passporting | Domestic only |
| Application fee | CAD 0 (no fee) [4] |
| Annual fee | CAD 0 (no fee) [4] |
| Statutory decision time | No fixed statutory maximum found; FINTRAC states most complete applications are processed within a target window (see observed) [4] |

## What it lets you do

- [Crowdfunding services](https://protegra.io/licensing/activities/crowdfunding/)

- **Crowdfunding services.** Matching business funding interests of investors and project owners through a platform, by facilitating loans or placing securities.

## Where it is valid

_Valid in Canada._

## Buying a company that already holds it

**Notification only.** For MSB registration, FINTRAC requires a criminal record check for each person who owns or controls, directly or indirectly, 20% or more of the entity or its shares. Registered MSBs must keep registration information up to date and notify FINTRAC of changes (e.g., contact person, Canadian representative for service) within 30 days; failure to notify in time can lead to administrative monetary penalties, criminal charges, or denial/revocation of registration. Separately, under the Retail Payment Activities Act a payment service provider must obtain new Bank of Canada registration (with a Minister of Finance national-security review of up to 60 days, extendable, plus up to 180 days, extendable, if a review is undertaken) before an acquisition of one-third or more of voting control closes; this is the Bank of Canada's regime, not FINTRAC's. [5]

Ready-made companies holding this licence: [see verified positions](https://protegra.io/companies/emoney-payments/).

## Laws behind it

- [Proceeds of Crime (Money Laundering) and Terrorist Financing Act](https://protegra.io/licensing/laws/ca-pcmltfa/): S.C. 2000, c. 17

## Getting this licence

Protegra handles this licence end to end: [MSB registration in Canada](https://protegra.io/crypto-license-canada): process, timeline and our fee.

## Sources

1. [fintrac-canafe.canada.ca: msb eng](https://fintrac-canafe.canada.ca/msb-esm/msb-eng): retrieved 2026-09-24
2. [laws-lois.justice.gc.ca: P 24.501](https://laws-lois.justice.gc.ca/eng/acts/P-24.501/): retrieved 2026-09-24
3. [bankofcanada.ca: psp registry](https://www.bankofcanada.ca/core-functions/retail-payments-supervision/psp-registry/): retrieved 2026-09-24
4. [fintrac-canafe.canada.ca: reg ins eng](https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/reg-ins-eng): retrieved 2026-09-24
5. [fintrac-canafe.canada.ca: respond eng](https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/respond-eng): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.