Due to being novelty and new to the scene, cryptocurrencies occupy a bizarre and gray portion of the legal landscape. Satoshi Nakamoto’s white paper introducing Bitcoin – one of the fundamental reasons a cryptocurrency has for existing is skirting third-party regulation. Since cryptocurrencies and tokens haven’t been a part of the landscape long enough for banks and regulatory agencies to make much sense of them, anyone looking to be compliant…

On June 9th, 2018, Canada has published draft anti-money laundering (AML) legislation amendments that apply to companies dealing in virtual currencies like bitcoin on blockchain technology. Here is a recap in this article and the links to the draft amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its enacted regulations for further exploration. The new regulations will treat crypto exchanges and payment processors as money…