We are thrilled to announce becoming the first European cryptocurrency exchange that was granted regulatory approval to operate in Canada.
We are thrilled to announce becoming the first European cryptocurrency exchange that was granted regulatory approval to operate in Canada. And it means that launching our services in the North American market in H2 2022 has turned from a far-away dream into seizable reality.
The licence, awarded by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC) grants Zonda the ability to operate in the country as a Money Services Business (MSB) with immediate effect. It requires our company to fulfil specific obligations to combat money laundering and terrorist activity financing in Canada.
“Canada has long been a regulatory pioneer, becoming the first country to pass a national law on digital currencies in 2014, and maintaining an open mind to innovation in the crypto space ever since. It’s this proactive and well-reasoned approach to regulation that makes it the natural next step for Zonda’s global expansion plans, as we bring our services to new markets around the world.
With every step we take outside Europe, our ambition is the same. To be the leading fully regulated crypto exchange, making it as simple as possible for people to use digital money securely. A new generation of crypto users is gravitating towards regulated platforms, and it’s for this reason that we are working with regulators around the world to transform how deposits, trades and tax flow transparently to, through and from exchanges,” said Przemysław Kral, CEO of Zonda.
Is it exciting news for Canadians only?
Not really. For our million plus existing customers, the Canadian expansion will result in higher liquidity, and, later this year, a greater choice of services and trading tools for businesses and investors alike.
So stay tuned. And we are off to learn some French.