The Impact of AML Law on Crypto Exchanges
About this Event
The heavily regulated financial services sector has clear laws that govern the trading of securities and other transactions, but the surge in popularity of crypto has introduced new grey areas around the legal status of exchanges for digital currencies. In particular, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and the high compliance standards of the Money Services Business classification, may both have serious implications for the way exchanges operate. Without regulatory clarity, this growing sector of digital finance may face serious challenges. Join the Canadian Blockchain Consortium’s expert Legal Committee for a deep discussion of these issues and ways that Canada’s crypto exchanges can keep compliant with emerging FINTRAC requirements.