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Finance committee  Yes, I agree. We were in a similar situation. It was quite unclear initially what exactly the implications would be for us, so we would definitely welcome more direct channels in the future.

March 14th, 2022Committee meeting

Dustin Walper

Finance committee  Blair, do you want to answer that?

March 14th, 2022Committee meeting

Dustin Walper

Finance committee  If I may add to that, the way we received the information was a little bit unusual in that it came from the RCMP through via our regulatory council, and we had to verify that it was coming from an appropriate channel. I will say that, in general—this doesn't just impact issues related to this kind of order or anti-money laundering concerns, but in general, even for things like fraud concerns—we don't have a great line into the RCMP, and we'd love to be able to build on that.

March 14th, 2022Committee meeting

Dustin Walper

Finance committee  It was similar for us, sir. We basically put into place a block once we received the initial information. Once we had confirmation that it was lifted, we removed that and we no longer use it to screen any new clients coming into our platform.

March 14th, 2022Committee meeting

Dustin Walper

Finance committee  I can quickly address that first and he can follow. As I mentioned, we've been registered with FINTRAC as an MSB since 2019. That includes a wide variety of different reporting obligations, most recently including large-value crypto transaction reporting. On any transaction valued at over $10,000, we have to report information.

March 14th, 2022Committee meeting

Dustin Walper

Finance committee  Thank you very much. Good afternoon, everybody. My name is Dustin Walper, and I'm the founder and CEO of Newton.co. I will give you a bit of background about us to start. We're one of the leading Canadian cryptocurrency trading platforms. We make it easy for Canadians to buy and sell over 60 different cryptocurrencies, including Ethereum, as mentioned, Bitcoin, Solana, Cardano and many others.

March 14th, 2022Committee meeting

Dustin Walper