Just-in: Binance becomes Money Service Business (MSB) in Canada

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Binance has obtained a Money Service Business(MSB) license from the Canadian regulators under which it has registered a domestic entity called Binance Canada Capital Market. The new subsidiary of the global crypto exchange will deal in digital assets, money transfers, and foreign exchange and act as  MSB. The news was confirmed by CEO Changpeng Zhao himself, claiming it to be the “Boxing Day” for the firm in Canada.

According to the official filing with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the crypto exchange registered for an MSB license on 24th December and received approval on 27th December. The current financial license will last until 31st December 2024. The exchange first registered its local entity on December 1st.

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