FINTRAC announced that it has imposed an administrative monetary penalty on Binance Holdings Limited, also operating as Binance Holdings (IE) Ltd., Binance.com, Binance Global and Binance. This foreign money services business was “imposed an administrative monetary penalty of $6,002,000 on May 7, 2024 for non-compliance… Read More
Pundi X is now registered with FINTRAC as the Money Service Business in Canada. This registration enables Pundi X “to conduct virtual currency and payment service provider businesses in the country, and marks an important milestone in the company’s expansion efforts.” Zac Cheah, CEO and… Read More
In 2018, Plaid launched Plaid in Canada to enable account connectivity for thousands of fintechs and help increase financial access for millions of Canadians. Since then, they’ve worked with companies like Wealthsimple, Shopify, and Wave. But onboarding a new user is more than “just account… Read More
Earlier this year, FINTRAC announced that crowdfunding platforms, as well as certain payment providers, must now register with FINTRAC. FINTRAC is the Financial Transactions Reports Analysis Centre of Canada. It is the agency that seeks to detect, prevent, and deter nefarious activity such as money… Read More
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is now requiring charity platforms to perform AML/KYC processes on transactions. FINTRAC already requires crowdfunding platforms that provide services to raise funds or virtual currency and certain payment service providers to register as money services… Read More
Fintech firm XREX announced today it has obtained the money services business (MSB) license from the Financial Transactions and Reports Analysis Centre (FINTRAC) under the Canadian government. The license allows the Taipei-based company to extend its crypto-fiat exchange services, which include cross-border payments, remittances, global… Read More
Canadian cryptocurrency trading platform Coinberry has become the first pure-play registered crypto trading platform in Canada. This registration will allow Coinberry to offer Canadians crypto-based products and services on a regulated platform. “We at Coinberry have been working hard with our partners at DLA Piper to… Read More
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