In Canada, the law on the legalization of bitcoin companies came into force
Since June 1, a law has been enacted in Canada that defines cryptocurrency and blockchain companies as enterprises that provide money transfer services. The relevant law was adopted in July 2019.
Under the new rules, companies must undergo mandatory registration with the Center for Analysis of Financial Transactions and Reporting (FINTRAC) and comply with the requirements presented to them. One such requirement is transaction reporting above CAD 10,000 and mandatory user authentication.