Canadian Government Releases Final AML Regulations for Crypto Businesses
Aware of growing public concern about money laundering and terrorist financing, the government of Canada introduced its final anti-money laundering (AML) regulations today, July 10, 2019. These rules will impact Canadian crypto businesses, including exchanges, digital platforms, custodial wallets, ICOs, utility and gaming tokens, escrow services and possibly bitcoin ATMs. The title of the new regulations, “Regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2019,” which will come into force on June 1, 2020, indicates that the government’s priority is crime fighting, as much as it…
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