FINTRAC and Bitcoin in Canada

If you've bought Bitcoin in Canada, you've encountered FINTRAC requirements — even if you didn't know it. Here's what FINTRAC is and why it matters.

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.

Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, all Bitcoin exchanges must:

Register with FINTRAC as a Money Services Business

Verify customer identity (KYC — Know Your Customer) before transactions

Keep records of all transactions above $1,000

Report suspicious transactions to FINTRAC

Have a compliance program with policies, training, and a compliance officer

Registration number: M21226416

Verify at: fintrac-canafe.canada.ca → MSB Lookup → search "1Bitcoin"

FINTRAC registration protects you. If an exchange is not registered with FINTRAC, it's operating illegally in Canada.

Always verify that the exchange you use is FINTRAC-registered before depositing funds.

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.

FINTRAC Registered | Non-Custodial | Bitcoin-Only | 20,000+ Canadians | Since 2020