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…
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…
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…
Canada, a diverse and resource-rich nation, has witnessed a dynamic economic landscape marked by a series of noteworthy developments in recent times. These economic trends have been shaped by a multitude of factors, including the global response to the COVID-19 pandemic, shifts in trade dynamics, government policies, and the ongoing…
In a significant development in the realm of economic regulation, the British Columbia MSB-Act has obtained royal agreement, marking a historic milestone in the province’s commitment to fostering a secure and appreciative economic sector. This crucial piece of legislation, designed to enhance the oversight of money benefits enterprises, has been…
In a momentous stride within the financial technology sector, Xace, a forefront contender in the domain of digital monetary services, has unveiled its official entry into the Canadian market as a Money Services Business (MSB). This strategic maneuver signifies an expansive leap for the company and ushers in novel prospects…
In the ever-evolving financial landscape, acquisitions are a common strategy for commerces looking to expand their reach and capabilities. For those considering an acquisition in Canada, especially in the realm of Money Services Businesses (MSBs), it’s essential to understand the regulatory environment and the unique considerations that come into play….
In an era marked by ever-changing commercial dynamics, the significance of robust anti-money laundering (AML) measures cannot be overstated. Acknowledging the necessity for adaptability and remaining ahead of emerging threats, the Canadian government has recently introduced substantial modifications to Canada’s framework. These alterations, elucidated in the Notice of Ways and…
The oversight of money service businesses in country is predominantly dictated by the Returns of Crime and Terrorist Sponsoring Act (PCMLTFA), in conjunction with its related directives. The Monetary Transfers and Records Examination Center (FINTRAC) supervises the control of MSBs in jurisdiction. An MSB, as defined by FINTRAC, is an…
