Canada Tightens Cryptocurrency Exchange Regulation By Investing.com

0
16


Investing.com – Canada is implementing tougher reporting requirements for cryptocurrency exchanges to prevent illegal activity.
The Department of Finance is amending regulations under anti-money laundering and terror financing legislation so that crypto exchanges would be classified as money service businesses.
The exchanges would then have to report any transaction over 10,000 Canadian dollars. Commercial banks are subject to similar reporting rules on transactions. Financial regulators and law enforcement officials have become increasingly concerned that cryptocurrencies are being used for money laundering and terror financing.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Article Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here