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ARTICLE · 17 APRIL 2015

Operators Of Virtual Currency ATMs And Trading Platforms In Québec Must Be Licensed

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Pursuant to Québec’s Money-Services Businesses Act, businesses that provide money services for remuneration must hold a licence issued by the Autorité des marchésfinanciers.

CanadaFinance and Banking
Pierre Côté
Pierre Côté
Andrew Hodhod
Andrew Hodhod
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Pursuant to Québec's Money-Services Businesses Act (the "Act"), businesses that provide money services for remuneration, which includes the operation of an automated teller machine ("ATM"), must hold a licence issued by the Autorité des marchésfinanciers (the "AMF"). On February 12, 2015, the AMF announced that it had amended the Policy Statement to the Act to bring virtual currency ATMs (such as Bitcoin ATMs) and virtual currency trading platforms within the purview of the Act. As a result, businesses that operate a virtual currency ATM or a virtual currency trading platform will now be required to obtain a licence from the AMF and comply with the provisions of the Act.

Money-Services Businesses Act

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