FINTRAC and Bitcoin in Canada

FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) is the federal agency that regulates Bitcoin platforms in Canada. Here’s what it means for you.

[Buy Bitcoin at a FINTRAC-Registered Platform →

What Is FINTRAC?

FINTRAC is Canada's financial intelligence unit. It oversees anti-money laundering (AML) and anti-terrorist financing (ATF) compliance for financial services businesses in Canada — including Bitcoin platforms.

What FINTRAC Requires of Bitcoin Platforms

Any company buying or selling Bitcoin in Canada must register with FINTRAC as a Money Services Business (MSB) and comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

Required compliance includes:

  • Registering with FINTRAC, also known as MSB registration
  • Verifying customer identities, also known as KYC or Know Your Customer
  • Keeping transaction records for 5 years
  • Reporting suspicious transactions
  • Reporting large cash transactions above $10,000

1Bitcoin.ca and FINTRAC

1Bitcoin.ca has been FINTRAC-registered since 2020.

Registration number: M21226416

You can verify this on the FINTRAC website.

What This Means for You as a Buyer

When you buy Bitcoin from a FINTRAC-registered platform:

  • You must verify your identity using government ID
  • Your transactions are recorded
  • The platform reports suspicious activity to FINTRAC

This is not unique to Bitcoin — banks do this for all financial transactions. It's the cost of operating a compliant financial platform in Canada.

Why FINTRAC Registration Matters

It protects you. Unregistered platforms have no compliance obligations. They can disappear with your money. FINTRAC-registered platforms are accountable to Canadian law.

It's the law. Buying from an unregistered platform creates legal risk for the platform. Reputable platforms are registered.

It's a trust signal. Registration requires ongoing compliance, audits, and record-keeping. It filters out bad actors.

Buy Bitcoin at FINTRAC-Registered 1Bitcoin.ca →

FINTRAC Registered (M21226416) | Non-Custodial | Bitcoin-Only | Since 2020

See also: Bitcoin Regulations Canada | Is Bitcoin Legal in Canada | How to Buy Bitcoin in Canada