Crowdfunding Businesses: Canada MSB License Required
On April 05, 2022, the Government of Canada announced a number of changes that impact the financial services industry. One of these changes occurred through the amendment to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). The changes mostly pertained to broadening PCMLTFA’s regulatory capture to include crowdfunding businesses that operate in Canada. As such,