dealers in virtual currency and bitcoin atms

Our AML consultants have been advising virtual currency companies and speaking extensively on the subject of crypto and virtual currencies since 2011.   We have among us Certified Cryptocurrency Investigators and Certified Bitcoin Professionals, and an active licence for cryptocurrency tracing software.   

Additionally, The AML Shop are proud members of the Canadian Blockchain Consortium (CBC). The CBC was established to unite blockchain business owners, developers, adopters and those interested in the transformative potential of Blockchain.

RETAIL PAYMENTS ACTIVITIES ACT

The AML Shop regularly assists dealers in virtual currency with the development and review of programs to satisfy the relevant regulators and financial services providers.  We are fully trained to help in your day to day compliance and can keep your business up to date with the latest regulatory requirements, including providing the latest updates and consulting regarding the new Retail Payment Activities Act (RPAA).

RPAA regulates payment activities of MSB’s in Canada, with implications directly affecting registration, operational risk management, incident response, safeguarding of funds and reporting.  We are here for your business, with the latest knowledge on RPAA to help you build a plan to adapt to these regulations swiftly and compliantly.   Our expertise in current AML trends such as RPAA are a testament to the forward-thinking, proactive work that makes The AML Shop the leader in best practices for virtual currency in Canada.  Connect with one of our advisors today to learn more.

JUNE 2020 REGULATORY UPDATES

Effective June 1, 2020, dealers in virtual currency serving Canadian residents, including Bitcoin ATMs, from within or outside of Canada, must maintain a Money Services Business (MSB) registration with FINTRAC and implement and maintain a program for compliance with AML legislation.  For those operating in Quebec, these entities may already be subject to that province's Money Services Business Act enforced by the AMF. 

Marcelle Dadoun - Principal, Program Design and Advisory
marcelle@theamlshop.ca
LinkedIn

Marcelle Dadoun, Principal, Program Design and Advisory leads The AML Shop's compliance program design division and provides advisory support to all reporting types, including new and evolving money services businesses, payment service providers and fintech clients looking to navigate local and international regimes for registration, licensing, and regulations. Additionally, she has developed and currently leads the Retail Payment Activities Act (RPAA) program division at The AML Shop. Read more.

Adam Feldman - Principal, Risk Management and Technology
adam@theamlshop.ca
LinkedIn

Adam Feldman leads The AML Shop's risk management and technology divisions as Principal, Risk Management and Technology.  As an experienced process engineer, Adam has a passion and talent for understanding, quantifying, and implementing efficient mitigation systems and processes across multiple industries and jurisdictions. Adam helps The AML Shop’s clients right size and optimize their compliance systems, processes and staffing, leveraging a toolbox of technology solutions. Read more.