The Financial Transactions and Reports Analysis Center of Canada (FINTRAC) has announced it will soon implement new anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. The laws including updated guidelines for virtual currencies.
In a departmental report published on March 10, FINTRAC emphasizes that the establishment of “an enhanced AML/[CTF] regime” for businesses operating with cryptocurrencies is “a major priority in the near term.”