Americas & Caribbean · CA
Canada
Federal MSB registration, provincial routes for crypto trading platforms, and provincially regulated gaming, including Ontario igaming.
Overview
The framework
Money services businesses, including those dealing in virtual currency, register with FINTRAC under federal AML legislation. Foreign businesses directing such services at persons in Canada are also generally required to register. We confirm whether registration applies and prepare it.
Securities regulation, including of crypto trading platforms, sits with provincial regulators coordinated through the Canadian Securities Administrators. Gaming is provincial: Ontario, for example, operates a regulated market for private igaming operators through the AGCO and iGaming Ontario.
Authorities
Who regulates what
- FINTRAC
- Federal AML/CFT registration and supervision of MSBs.
- Provincial securities regulators
- Securities and crypto trading platform oversight.
- AGCO / iGaming Ontario
- Registration and operating agreements for igaming in Ontario.
Regimes
Licensing routes
MSB / FMSB registration
For money transfer, foreign exchange and virtual currency dealing.
Sectors: Payments · Crypto
Crypto trading platform registration
Provincial securities registration for platforms trading crypto contracts.
Sectors: Crypto
Ontario igaming registration
Operator registration and operating agreement for the Ontario market.
Sectors: Gaming
Our Regulatory & Licensing practice prepares the applications for these routes and manages them through to the regulator's decision.
Considerations
What to weigh up
- Treat MSB registration as an AML registration, not a full licence.
- Map the requirements of each target province separately.
This overview is general information, summarised at a high level. Requirements change and depend on the specific activity; seek advice on your circumstances before acting.
Industries
Relevant industries
- iGaming & GamingB2C operators, B2B suppliers, platforms, aggregators and affiliates.
- Fintech & PaymentsPayment and e-money institutions, PSPs and acquirers, payment facilitators and embedded finance.
- Crypto & Digital AssetsCASPs and VASPs, exchanges, custodians, wallets, token projects and crypto payments.
Across jurisdictions
Cross-jurisdiction capabilities
Services we support across the jurisdictions in our directory, described once on their own pages. We deliver each to the requirements that apply locally, coordinating local specialists where local law, registration, representation or professional requirements require it.
- Privacy & Data ProtectionExternal DPO services and working privacy programmes: GDPR and global privacy laws, DPIAs, data mapping, transfers and ISO/IEC 27701.
- Information Security & CybersecurityFractional CISO support, ISMS and security programmes, certification and audit readiness, DORA, NIS2 and customer assurance for enterprise sales.
- AI GovernanceGovernance that lets AI adoption scale: EU AI Act readiness, ISO/IEC 42001 management systems, AI risk and impact assessments, and vendor risk.
- AML & Financial Crime ComplianceAML/CFT programmes, MLRO-as-a-Service, independent AML/CFT audits, risk assessments, monitoring, sanctions and inspection support.
- IP Registration & ProtectionTrademark and patent registration, copyright, domain disputes and enforcement that protect your brand, software and content across markets.
- Legal OpinionsRegulatory, business model, perimeter, payment, gaming, crypto-asset and cross-border opinions that answer what banks and investors ask.
- Bank Account OpeningHelp organising your banking with banks and EMIs that fit your model, from the onboarding file and account structure to periodic reviews.
- Merchant Account / Acquiring SetupMerchant applications, acquiring structure and negotiated terms for online and high-risk merchants that need stable card and local payment acceptance.
Support
Canada: how we support your business
- Regulatory & LicensingStrategy, applications and regulator engagement for the gaming, payments and crypto routes listed above.
- Corporate StructuringGroup architecture, incorporation, substance and governance built around your licences, banking and investors.
- Market Entry & Regulatory StrategyMarket prioritisation, regulatory roadmaps and launch readiness that let you expand into new jurisdictions in the right order.
Canada: the right fit for your business?
We look at your product, target clients and banking needs to see whether this jurisdiction fits or another would serve you better, then send a written proposal with scope, timetable and fee.