CANADA: MSB LEGALLY RECOGNIZE CRYPTOCURRENCY EXCHANGES AND PROCESSORS

As Francis Pouliot twitted…

Today is my last day as an unregulated dealer in virtual currency. As of June 1st 2020, Bitcoin exchanges and payment processors are officially regulated as Money Services Businesses in Canada.

Full circle 7 years after I started my career in Bitcoin lobbying on this very issue.

— Frλ͎ncis ☣️ (bullbitcoin.com) (@francispouliot_) May 31, 2020

Money Services Businesses legally recognize cryptocurrency exchanges and processors.

You can read more here

• Cryptocurrency Firms Now Recognized as Money Service Businesses in Canada
• Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2019: SOR/2019-240