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ARTICLE · 17 AUGUST 2022

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The Cullen Commission Explores The Issue Of Money Laundering Through Virtual Assets

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In June 2022, the Final Report of the Commission of Inquiry into Money Laundering in British Columbia was published.

CanadaTechnology
Maureen Ward
Maureen Ward
Joseph Blinick
Joseph Blinick
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In June 2022, the Final Report of the Commission of Inquiry into Money Laundering in British Columbia was published. As previously reported by us in The Cullen Commission Releases Its Final Report on Money Laundering in British Columbia—Key Takeaways, the Report of the Commission, led by B.C. Supreme Court Justice Austin Cullen, canvasses the nature and extent of money-laundering activities in British Columbia and examines multiple issues that have contributed to its precipitous rise. Included in the lengthy 1800-page Report is an analysis of the role of virtual assets, including cryptocurrencies, in money laundering and other crimes, as well as methods of investigation. The Report provides a helpful and comprehensive look into the current regulatory landscape relating to cryptocurrencies and other virtual assets in Canada, and addresses the challenges and opportunities that lie ahead for both regulators and private actors.

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