Canada is a country that is famous for its entrepreneurial culture . Various forms of property are available for business development in Canada, which allow entrepreneurs to register their company and work in various sectors of the economy. Sole proprietorship A sole proprietorship is a form of ownership in which…

Canada is one of the most attractive jurisdictions to locate cryptocurrency firms that focus on blockchain technology. In Canada, there is an extensive network of technology incubators, a strong legal system and scientific achievements, which creates ideal conditions for starting a crypto business. In addition, there are a large number…

Canada is known for its dynamic and innovative business sector, offering a variety of services, including accounting. Canada’s accounting sector provides a variety of services to companies of all sizes, from small businesses to large corporations. One of the key principles of CAS is the principle of “credibility”. This means…

Canadian governmental bodies are trying to respond to streams in capital market. Regulative authorities are no doubt aware of the importance of innovation and market integrity as Central Bank considers issuing digital currencies to support economic resonance. Virtual Currency Regulation Review: Canada As set in Section 8 of Currency Act,…

If you plan to register a crypto-exchange, providing your services to local clients, there’s need to consider that such a commercial structure will fall under the MSB. And, accordingly, it’ll be subject to norms for due diligence of clients, work with documents, observation and reports. Crypto-exchanges offering deposit services for…

Digital currency in Canada is a brand new form of commonly accepted electronic cash provided by a central bank. It is accessible in various configurations, including wholesale and retail, and contains a virtual ledger that can take advantage of technologies such as blockchain. Central bank digital currency in Canada is…

Canadian AML controls a practice used to hide the origin of funds or assets obtained through unlawful means. The complete regs modifying the Proceeds of Crime (Money Laundering and Terrorist Financing Act) Regulations were just made public by FINTRAC. Given the size and depth of the Regulations’ modifications, regulated entities…

In 2022, there have been new modifications to Canadian anti-money laundering and terrorist financing laws. In this article, you can learn more about them. Transformation of Canada’s AML laws The PCMLTA and the Criminal Code are two examples of the important national AML in Canada, ATF, and relevant laws that…

The Anti–Money Laundering Regime modifications were announced by the Canadian Department of Finances in the spring of 2022. The proposed changes make firms subject to the current regulations under the PCMLTF Act. Providers of payment services The PCMLTF Act has included certain PSPs by removing the exemption for the payouts…

GenioPay, a worldwide transfer network, has expanded its services to millions of consumers after receiving a Canada MSB License (Money Services Business). Being licensed enables an organization’s capacity and dedication to build a secured environment to battle criminal elements, safeguard users, and deliver excellent service to customers, which is leading…

Many people are confused with various types of permissions for running a business. The Center of Financial Transaction and Reporting Analysis in Canada grants both the Canadian MSB and FMSB permits. In this article, you are able to obtain more info about discrepancies between these types of licensing. If you…

Around the subject of licensing and registration of Canadian money services businesses, there is sometimes a lot of conflicting and perhaps even inaccurate data accessible in the public media. In this article we want to overview what is a msb license and all details that are connected with the MSB…