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Learning & News => News related to Crypto => Topic started by: newshunter on March 20, 2020, 07:01:34 AM

Title: Canada Tightens Crypto Regulations Alongside AML/CTF Overhaul
Post by: newshunter on March 20, 2020, 07:01:34 AM

Canada Tightens Crypto Regulations Alongside AML/CTF Overhaul

Canadian firms processing crypto transactions worth more than 1,000 Canadian dollars will have to record and report identifying information regarding their customers

Source: Canada Tightens Crypto Regulations Alongside AML/CTF Overhaul (https://cointelegraph.com/news/canada-tightens-crypto-regulations-alongside-aml-ctf-overhaul)

Would appreciate your opinion about this

Title: Re: Canada Tightens Crypto Regulations Alongside AML/CTF Overhaul
Post by: Fenix on March 20, 2020, 07:40:28 AM

Well, Canada has been implementing binding FATF recommendations from June 21 last year. States are required to amend national laws within one year and take control of transactions worth more than a thousand euros. This is part of a set of measures to combat dirty money laundering and the financing of terrorism. Many states are doing the same thing now.