What Is FINTRAC?
FINTRAC stands for the Financial Transactions and Reports Analysis Centre of Canada.
It's Canada's financial intelligence unit — a federal agency responsible for detecting and preventing money laundering and terrorist financing.
FINTRAC oversees all Money Services Businesses (MSBs) in Canada, including Bitcoin exchanges.
How FINTRAC Regulates Bitcoin Exchanges
Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, all Bitcoin exchanges must:
1Bitcoin.ca FINTRAC Registration
1Bitcoin.ca Registration Details
Registration number: M21226416
Verify at: fintrac-canafe.canada.ca → MSB Lookup → search "1Bitcoin"
Why This Matters for You
FINTRAC registration protects you. If an exchange is not registered with FINTRAC, it's operating illegally in Canada.
- No regulatory oversight
- No requirements to protect your funds
- Higher risk of fraud or exit scam
Always verify that the exchange you use is FINTRAC-registered before depositing funds.
FINTRAC and Your Privacy
FINTRAC-registered exchanges must collect your personal information (KYC), but this data is protected under PIPEDA (Canada's privacy law).
Your information is used only for regulatory compliance — never sold or shared with third parties except as required by law.
