FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) has restored its operations after a series of massive cyberattacks in March 2024. After this incident, FINTRAC took its corporate systems offline to ensure their integrity and protect the information that it maintains. Issuance of cryptocurrency registrations was suspended.
Some systems are still being upgraded, but FINTRAC has completely updated its security system and continues to accept Money Service Business applications. In addition to cryptocurrency registration, PSP, Foreign Exchange, Money Transferring, Issuing and Redeeming Money Orders and other licenses are also available.
The process of obtaining registration has become radically new, and the requirements for applicants have increased significantly.
Note that both local companies and corporations abroad can obtain Canadian registration.
No reason to wait!
If you are interested in an MSB license, please apply to us via the contact form. We offer one of the most competitive prices on the market. FinanceIQ Hub already has successful cases of obtaining FINTRAC registration under the new rules. Let us make your crypto business official right now!
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