Regulatory Change Ahead: Ensure your compliance with the Bank of Canada regulations Before September 7, 2025
Canadian regulatory frameworks for Money Services Businesses (MSBs) operating online are entering a period of significant transition. Starting November 1, 2024, all MSB’s that offer online money services (international transfers, remittances, exchange platforms, online accounts, e-wallets and more) must register with the Bank of Canada. Although we are currently in the second phase of the transition period, a thorough compliance with the regulations (RPAA and RPAR) is mandatory as of September 7, 2025.