UsA MSB (Money service business)
What is Money Service Business (MSB) in USA?
A Money Services Business (MSB) registration in the United States is one of the most recognized regulatory approvals for crypto exchanges, FX brokers, and financial platforms. Being registered as an MSB with FinCEN enhances a company’s credibility, demonstrating compliance with strict AML and KYC regulations. This not only builds trust with global clients but also opens the door to partnerships with payment providers and banks. For brokers and exchanges featured on review sites like WikiFX, holding a US MSB license is a powerful way to promote legitimacy, attract investors, and stand out in the competitive financial industry.
Fintrac Canada (MSB)
New FINTRAC MSB Regulations in Canada
Under the updated FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) regulations, all registered Money Service Businesses (MSBs) are now required to maintain a Canadian business bank account as part of their compliance framework. In addition, MSBs must implement strict AML/CTF policies, conduct ongoing KYC due diligence, and report large or suspicious transactions directly to FINTRAC. These requirements are designed to increase transparency, strengthen anti-money laundering controls, and ensure MSBs operating in Canada meet international compliance standards.