The government of Canada is now requiring existing and upcoming crypto exchanges to register with the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC).
Cryptocurrency exchanges will have to comply with this requirements by June 1, 2020 as part of amendments to Canada’s new Anti-Money Laundering (AML) laws next year.
Exchanges will now have to keep records of their client’s information and transactions and hire a compliance officer for their platform.
While the aforementioned requirement was an voluntary basis the new amendment of requiring exchanges to register will hopefully convince Canadian banks to be more open to providing services to and dealing with virtual-currency businesses.
Headlines for the world of Cryptocurrencies - July 10, 2019
- Samsung Releases SDK For Ethereum Developers
- Ban On USD Creates Massive Interest On BTC In Zimbabwe
- The Hashrate Growth Of Bitcoins Continues To Accelerate Reaching New Highs
- Coinbase And Aon Launching Regulated Insurance
- Election Authority In The U.S. Set To Decide On Member’s Ethereum Token Initiative
Headlines for the world of Cryptocurrencies - July 09, 2019
- Central Bank Of China To Develop Own Crypto
- More Crypto Competition In The U.S.
- Resumption Of Private Placement Of Bitcoin Trust Shares On Grayscale
- Morgan Creek CEO Predicts $30,000 USD BTC Price
- New Torrent Softwared Enhanced By Tron-based Token BTT
Headlines for the world of Cryptocurrencies - July 08, 2019
- Biki.com One Of Forbes’ Top 10 Blockchain Companies In 2019
- Changes in Ether Reference Rate And Index Points To New Futures Product At CME
- Kumex Kucoin’s Bitcoin Derivative Trading Platform
- Changes in Ether Reference Rate And Index Points To New Futures Product At CME
- Deutsche Bank Retrenches 18,000 Jobs
