Canadian authorities have amended the nation’s anti-money laundering (AML) and anti-terrorism funding laws to foster orderliness in the finance and cryptocurrency industries by preventing deceitful individuals from exploiting regulatory loopholes in cryptocurrency exchanges and firms.
Canada’s Fraud Crackdown
As stated in the draft published by Canada Gazette, the Financial Action Task Force (FATF) pointed out some inadequacies in the Anti-Money Laundering and Anti-Terrorist Financing Regime (AML/ATF).
Similar to regulations in other countries where digital assets are partly tolerated, all cryptocurrency-related businesses, exchanges, and Fintech companies in Canada are now categorized under money
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