Quick Facts
| Parameter | Value |
|---|---|
| License name | MSB Registration |
| Country | Canada |
| Regulator | FINTRAC |
| What it covers | Federal AML registration for crypto businesses |
| Minimum capital | None |
| Timeline | 8–10 weeks |
What is the MSB Registration?
The MSB Registration is a regulator authorisation issued by FINTRAC that allows a regulated entity in Canada to provide the services covered by the regime. Mandatory baseline for any crypto activity in Canada.
Who needs a MSB Registration?
Operators offering services that fall within the activity definition supervised by FINTRAC. The activity scope captures federal aml registration for crypto businesses — and you should treat anything within or adjacent to that scope as caught until the structure has been opined on.
How the MSB Registration application works
The application is run as a structured five-stage workstream: scoping and gap analysis, incorporation and substance, AML/KYC programme drafting, regulator submission and RFI cycles, and post-licence onboarding. Total time from kickoff to authorisation is 8–10 weeks.
Cost of the MSB Registration
The total first-year cost combines: regulator fee, statutory capital tied up at None, legal fees confirmed at engagement, substance (resident director, office, AML officer where required), and the first year of ongoing supervision. We provide a fixed-scope quote at engagement so the number is not a moving target.
Pitfalls to avoid
- Mismatched substance. Paper directors and serviced offices are detected at first examination. Substance must be substantive;
- Generic AML programmes. FINTRAC reads policies as a competency signal — generic templates are visible;
- Banking afterthoughts. A licence without a bank account is a paperweight. Banking is part of the engagement, not bolted on after authorisation;
- Ignoring the year-one supervision burden. Authorisation is the start. Annual audit, AML refresh and material-change notifications are calendared from day one.
Frequently asked questions
What does the MSB Registration cover?
The MSB Registration authorises federal aml registration for crypto businesses. It is supervised by FINTRAC. Mandatory baseline for any crypto activity in Canada.
What is the timeline for the MSB Registration?
Typical timeline is 8–10 weeks from kickoff to authorisation. Variance comes from RFI cycles and the quality of the application file at submission, not from the published schedule.
What is the minimum capital for the MSB Registration?
Statutory capital is None. Capital is one input — substance, governance and the AML programme usually drive the application outcome more than the capital line on its own.
How does the MSB Registration fit alongside other Canada licences?
Most operating models in Canada combine MSB Registration with one of the other available regimes — see the full list on the Canada page.
Who supervises MSB Registration authorisation in Canada?
FINTRAC is the supervising authority. The same regulator handles ongoing supervision after authorisation, including annual returns and material-change notifications.