CryptoWorld News reports that WuShuo has learned that the Canadian Financial Transactions and Reports Analysis Centre (FINTRAC) updated its compliance guidelines for financial transactions related to Iran on June 23rd, requiring reporting entities to treat all financial transactions originating from or destined for Iran as high-risk transactions. The guidelines specify that electronic fund transfers and virtual currency transfers involving Iran, regardless of amount, must record the source of funds or virtual currency, the purpose of the transaction, and report to FINTRAC as required.

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QuantsAndCats
· 15h ago
Canada is following closely behind the United States, requiring crypto transfers to be reported, and the decentralized narrative has taken another hit.
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GateUser-ecded933
· 16h ago
This operation by FINTRAC, even small transfers must record the source, on-chain privacy is basically like running naked.
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BlackVelvetKey
· 16h ago
Will coins coming from Iranian addresses automatically be marked with a red label in the future?
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Post-RainTvl
· 16h ago
Canada's move this time is to treat virtual currencies and wire transfers equally; regulators are finally not pretending to be naive anymore.
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Orange-FlavoredColdWallet
· 16h ago
Good news for on-chain analysis companies, their business is about to explode
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SushiStopLoss
· 16h ago
Report regardless of the amount, this threshold is even stricter than traditional SWIFT.
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GateUser-6d80555a
· 16h ago
Compliance costs are rising again; small and medium-sized exchanges probably can't withstand this due diligence pressure.
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K-LineSocialAnxiety
· 16h ago
Iranian user: I need to write a short essay explaining the purpose just to transfer USDT?
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