- Compliance Policy in Canada

FINTRAC Policy - Providing a Virtual Currency Service

The Financial Transaction and Reports Analysis Centre of Canada (FINTRAC) is Canada's anti money laundering (AML) and counter terrorist financing (CTF) financial intelligence unit (FIU) and regulator. The Government of Canada has made changes to what services make an individual or an entity a MSB in Canada to include virtual currency services and, effective June 1st 2020, these changes are now in force. Individuals and entities engaged in the business of dealing in virtual currency services are MSBs and must register with FINTRAC.

Our Compliance Regime

Considering is now a reporting entity, we are registered with FINTRAC and have been issued MSB number M20844324; which can be searched within their public registry.

As part of our obligations, we have implemented compliance measures that align with the recent regulatory mandates. We strive to prevent money laundering and terrorist financing within our country and internationally. The steps that we have taken include the implementation of an AML and CTF Compliance program with:

  • A designated Compliance Officer;
  • Documented policies and procedures;
  • A documented Risk Assessment;
  • An ongoing training program; and
  • Periodic reviews of the effectiveness of our compliance program and operations.

In addition, we have operational processes in place that include:

  • Transaction limits and monitoring;
  • Customer verification and identification; and
  • Risk-based measures.

Additional information about our commitment to compliance and our compliance program may be obtained by contacting us directly.

Last Updated: June 1st, 2020