MSB registration in Canada

MSBs in Canada must register with FINTRAC and comply with AML laws under the PCMLTFA. Scorechain helps digital asset MSBs meet these obligations efficiently.

Money Service Businesses (MSBs) are businesses offering services such as foreign exchange dealing, money transmitting, or digital assets dealing. In Canada, they must comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

Also, before starting operations, MSBs must register their business with the Financial Transaction and Reports Analysis Centre (FINTRAC). Their applications must contain information on the company's bank account, compliance officer, employees, etc.

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MSB registration in Canada

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MSB registration in Canada

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