In a significant regulatory development, Binance, one of the world’s largest crypto-currency exchanges, has been fined C$6 million by Canadian bodies for violations of anti-money-laundering (AML) adjustments. This penalty marks a pivotal moment in the ongoing global scrutiny of crypto-currency exchanges and their adherence to monetaryh adjustments. This article delves…
In a significant milestone for the financial technology sector, Cornerstone FS has announced that it has secured a license to supplypayment favors to enterprises in Canada. This strategic move is poised to enhance the company’s footprint in the North American market and offers a robust solution for enterprises seeking efficient,…
In the immediately maturing terrain of crypto, where innovative technologies bring new possibilities, they also open doors for deceptionulent actions and abuses. Recognizing the need for robust solutions to address these challenges, KPMG-Canada has taken a significant step by partnering with Chainalysis, a leading blockchain analysis enterprise. This complicity aims…
On April 21, 2023, the Canadian governance unveiled the Notice of Ways and Means Motion, ushering in pivotal changes to the Proceeds of Crime (Money Laundering) and Terrorist Sponsoring Act (PCMLTFA) as outlined in the 2023 federal budget. Our previous coverage (refer to our Blakes Bulletin: 2023 Federal Budget: Impact…
E-money exchange Kraken is gearing up to provide Canadian consumers with a more diverse range of options, unveiling plans to introduce eight new cryptocurrencies and integrate Interac e-transfer capabilities into its platform. In a recent blog post, Kraken disclosed its intention to include Astar, Audius, Centrifuge, Moonbeam, GensoKishi Metaverse, Perpetual…
Canada’s regulatory authority in financial matters, guided by the OSFI, is actively seeking input on the disclosure of cryptocurrency assets, aligning with broader global trends. This initiative follows the agency’s proposal of new guidelines in July, emphasizing the perceived risks associated with the dynamic nature of the cryptocurrency sector. Background:…
In a monumental leap forward for the monetary technology sector, CACASHOP, a distinguished player in the industry, has officially secured the prestigious Canadian FINTRAC MSB (Money Services Business) Permit. This strategic move not only marks a significant milestone for CACASHOP but also reinforces its unwavering commitment to providing secure, compliant,…
Introduction In an era marked by the rapid evolution of monetary technology, Klasha stands at the forefront of innovation and convenience. Renowned for its groundbreaking digital payment and financial solutions, Klasha has embarked on a remarkable journey as it acquires a Money Services Business (MSB) permit in Canada. This momentous…
In an ever-evolving global financial landscape, businesses and entrepreneurs continually seek innovative solutions to navigate the regulatory environment effectively. One such solution gaining traction is the Money Services Business (MSB) license in Canada. This article explores the growing trend of choosing MSB licensing in Canada as a strategic alternative to…
MSBs and EMIs or PIs in Canada supply a wide array of monetary options catering to diverse consumer and commerce needs. This article focuses on highlighting the core options offered by these entities. Money Services Businesses (MSBs) MSBs play a pivotal role in facilitating various monetary transactions and services, making…
Exploring Business Prospects in the Canadian Landscape: Canada, a realm brimming with economic promise, allures global entrepreneurs and investors. Thanks to its unwaveringly stable economy, fortified legal framework, and unyielding dedication to innovation, Canada has emerged as a beacon for those aspiring to establish themselves within North America. However, prior…
On June 30, 2023, in Santa Clara, California, YOMAEX, the leading global digital currency exchange, achieved a significant milestone by securing a Canadian MSB license as part of its strategic expansion into Canada. This achievement not only signifies a pivotal moment in YOMAEX’s presence within the worldwide digital acquisition trading…
