Canada

Regulator/Supervisor

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Website

https://www.fintrac-canafe.gc.ca/intro-eng

De minimus threshold

unknown

Travel Rule enactment date

1 June 2021. However, FINTRAC will only start the compliance assessment with those regulations from 1 April 2022.

Unhosted wallets

unknown

VASP licensing & registration requirements

Crypto Asset Trading Platforms (CTPs) may be required to register with the Investment Industry Regulatory Organization of Canada (IIROC), in case they qualify as marketplace or dealer platforms. The Joint CSA/IIROC Staff Notice 21‑329 provides more guidance in this respect.

VASP reporting obligations

When receiving virtual currency in an amount equivalent to CAD10,000 or more in a single transaction, VASPs are required to (i) keep records that include, for instance, the name, address, date of birth, and occupation of "any person involved in the transaction", including the person from whom the VASP received the VC (see FINTRAC’s guidance on Record keeping requirements for financial entities and for money services businesses), and (ii) file a Large Virtual Currency Transaction Report (LVCTR) to FINTRAC

VASP equivalent term

Crypto-asset Trading Platforms (CTPs)

Travel Rule applies to

tbc