Communicators

AML Incubator (AMLI), a leading compliance consultancy, has introduced a new service package to assist European Money Service Businesses (MSBs) and Virtual Asset Service Providers (VASPs) in establishing operations in Canada. The service is designed to help businesses manage complex regulatory challenges arising from the European Union's Markets in Crypto-Assets (MiCA) regulation.

VANCOUVER, BC / ACCESSWIRE / January 10, 2025 / The MiCA regulations (https://finance.ec.europa.eu/digital-finance/crypto-assets_en#legislation), part of the EU's digital finance package, imposes strict compliance rules for crypto-asset issuers and service providers. These include licensing, registration, and transparency requirements aimed at improving market stability and investor protection.

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While MiCA brings greater oversight to the industry, many small and mid-sized MSBs and VASPs are struggling to meet these new demands within the required timelines (https://amlincubator.com/blog/challenges-facing-small-and-medium-european-vasps-and-msbs-as-mica-regulations-loom). As deadlines approach, businesses are exploring alternative jurisdictions that provide clearer regulatory pathways without sacrificing international credibility.

Canada's Compliance Framework Offers a Competitive Advantage

Canada's regulatory framework, overseen by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) (https://fintrac-canafe.canada.ca/msb-esm/register-inscrire/reg-ins-eng), provides MSBs with well-defined rules for operating legally and securely.

Provinces such as British Columbia stand out for their streamlined licensing processes and proactive AML enforcement measures, making them ideal for businesses looking to stabilize operations while accessing global markets.

This combination of clarity, compliance support, and global reach has made Canada an increasingly attractive destination for MSBs and VASPs.

AML Incubator's Service Package: Streamlined Solutions for Relocation

AMLI's MSB Registration service package (https://amlincubator.com/services/msb-registration) is designed to help MSBs and VASPs transition to Canada quickly and securely. Key features include:

-          Regulatory Setup - Full assistance with FINTRAC registration, provincial licensing, and AML program implementation.

-          Licensing and Documentation - Support throughout the registration process to ensure all requirements are met without delays.

-          Operational Launch - Guidance on establishing Canadian operations, including banking relationships, staffing, and infrastructure.

-          Ongoing Compliance Support - Continuous monitoring of regulatory changes and implementation of updates to maintain compliance post-launch.

Executive Insight

"As regulatory frameworks evolve, businesses need practical strategies to stay compliant without disrupting operations," said the CEO of AML Incubator. "Canada offers a stable and transparent environment where MSBs and VASPs can reposition themselves for growth.

AMLI's new service package is designed to simplify this process, helping businesses meet regulatory deadlines and remain competitive in a changing market."

With MiCA compliance deadlines fast approaching, European MSBs and VASPs must act quickly to secure their operations. AMLI's new service package (https://amlincubator.com/services/msb-registration) provides a practical path to stability and compliance by relocating to Canada.

For more information, visit AMLIncubator.com or contact AML Incubator directly.

About AMLI

AML Incubator is a compliance consultancy that specializes in anti-money laundering (AML) and regulatory services for financial institutions, MSBs, DEX, DAO, NFT marketplaces, real-world assets, and virtual asset providers. With years of experience helping businesses meet compliance standards across multiple jurisdictions, AML Incubator simplifies regulatory challenges and helps businesses operate with confidence.

By Haik Kazarian

Head of Business Development

Email: hello@amlincubator.com

Phone: +1 416 209 0913

Website: https://amlincubator.com

SOURCE: AML Incubator LTD