Your license in the UK unfortunately does not extend to any operations you may wish to conduct In Canada. An
E- Money Institution License in the UK is similar to Canada’s MSB Registration. Your business model would need
to be reviewed by a lawyer to assess whether or not you would be required to register with Canada’s Financial
Transactions and Reports Analysis Centre of Canada otherwise known as FINTRAC. If it is deemed by the lawyer
that your business model is that of an MSB, you would need to be registered with FINTRAC as a Foreign MSB.

Through our network of resources, we can introduce you to one of the many lawyers we work with in the space
to assist you in assessment of your business model as it relates to any regulatory requirements in Canada.