Advancing

Vault of Satoshi Gets Full Money Services License for Canada

Canadian bitcoin exchange Vault of Satoshi announced it has gained a full Money Services Business license in its native country, after spending “some time” in a probationary period. The license is national, allowing the company to operate in every province of Canada as it serves clients located in most countries around the world.

The company is also applying for a license with the Investment Industry Regulatory Organization of Canada (IIROC), saying it wants to be a “legal, transparent and reliable exchange […] to be a positive part of the ever evolving cryptocurrency legal landscape here in Canada.”

It’s a dash of good news for Vault of Satoshi, which at the beginning of March announced “a temporary and voluntary withdrawal from the United States, due to the challenging legal/political landscape for a foreign entity operating in the cryptocurrency space.” It also added that it was working day to day with legal experts and striving towards re-entry into the US market in a secure, legal and reliable manner. Vault of Satoshi was critical of the US Financial Crimes Enforcement Network (FinCEN), which it claimed had been opaque about compliance requirements.

Vault of Satoshi exchanges USD and CAD for digital currencies in any country other than those on its blacklist, which contains the usual financial world suspects plus the US, Thailand and Iceland.

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