Cryptocurrency, Payments & Fintech
PAYMENT & FINTECH
Financial technology, or “FinTech”, has changed the way the world considers finances. McMillan’s payments and money services lawyers have the experience, technical expertise and industry knowledge to help clients gain competitive advantage among emerging opportunities while navigating the risks FinTech brings. We have deep regulatory and transactional experience in all parts of Canada’s financial services industry, in regulatory oversight and in public policy.
In a rapidly evolving industry, our lawyers have gained significant FinTech experience advising institutional lenders, tech companies and regulators on a wide array of FinTech matters including cryptocurrencies (such as bitcoin), the payments ecosystem and peer to peer payment systems, mobile payments and deposits, virtual wallets, online lending, trading and investments and financial planning “Robo-advisors”. We also negotiate on behalf of clients the complex intersection of cybersecurity, data privacy, banking and securities regulatory compliance, consumer protection and other regulatory and transactional requirements.
BLOCKCHAIN, CRYPTOCURRENCY AND DIGITAL ASSETS
McMillan has a comprehensive understanding of blockchain, cryptocurrency, digital assets and other decentralized technologies. We use an integrative, pragmatic, and proactive approach when providing counsel in connection with an ever-changing regulatory landscape.
Our cross-disciplinary team brings together specialists across many fields, including litigation, securities regulation, capital markets, investment funds and asset management, mergers and acquisitions, derivatives, technology, privacy and cybersecurity, intellectual property, consumer protection, anti-money laundering, financial services, tax, and bankruptcy and insolvency.
McMillan provides Canada’s most sophisticated entrepreneurs, financial institutions, venture investors, asset managers, platforms, exchanges, third-party software service providers, and financial technology companies with the expertise to help evaluate, implement, invest in, and protect blockchain-based technologies and digital assets. McMillan has advised on a wide variety of matters in this industry, including:
- Civil and regulatory proceedings in the digital assets and blockchain space;
- Cryptocurrency fraud, forensic investigations, asset tracing, enforcement, and seizure of digital assets, including with respect to cross-border matters;
- Advising clients and working with courts, monitors and custodians with respect to the valuation, transfer, custody, maintenance, and disposition of digital assets in all manner of proceedings;
- Initial coin or token offerings (ICOs and ITOs);
- Securities registrations and applications for exemptive relief (including with respect to crypto asset trading platforms (CTPs));
- Regulatory enforcement proceedings with respect to CTPs and digital assets generally;
- Cybersecurity and privacy;
- Securities regulatory compliance;
- Consumer protection and other regulatory and transactional requirements;
- Money services business (MSB) regulatory guidance, registration, and licensing;
- Formation of funds that invest in digital assets and blockchain-related businesses;
- Disputes about, and regulation of, Non-Fungible Tokens (NFTs), digital collectibles, and virtual goods;
- Brand protection;
- Registration of trademarks covering NFTs;
- Drafting patent applications pertaining to blockchain and metaverse-related inventions;
- Decentralized Autonomous Organizations (DAO) projects;
- Web3 blockchain applications, decentralized finance (DeFi), and staking;
- Tax matters;
- Smart contracts; and
- Recovery of distressed assets.
PAYMENTS & MONEY SERVICES
McMillan’s payments, money and financial services lawyers specialize in helping corporate clients navigate this dynamic payments industry. Our practice draws on the firm’s expertise across a wide variety of practice areas to provide our clients with a unique perspective on the Canadian and international payments ecosystem.
McMillan’s payments practice regularly advises merchants, payments processors, card companies (payment network providers), digital payments companies, regulators, industry groups, technology providers, cross-border payments facilitators and payment clearing and settlement providers. Our payments, money and financial services lawyers offer expertise on anti-money laundering and economic sanctions, regulatory compliance, financial services, consumer protection, privacy and data protection, and information technology. We combine industry knowledge with a deep understanding of payment and financial market infrastructures to provide a full range of services to clients in the payments, funds transfer, foreign exchange, virtual currency and Paytech sectors.
Our lawyers have negotiated with regulators and various parties in the Canadian payments system, including the Office of the Superintendent of Financial Institutions and Payments Canada, to clear the regulatory hurdles associated with bringing an innovative payment functionality to the Canadian marketplace.
Primary Contacts
View All ContactsInsights (10 Posts)View More
Consumer-Driven Banking is (almost) Here! Highlights from Budget 2024
On April 16, the Government of Canada released its 2024 budget which includes the promise of new legislation this spring to implement open banking in Canada.
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Apr 17, 2024
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Warning For Businesses: Companies Can be Liable for Tort of Bribery Even if They Did Not Intend to Pay or Receive a Bribe
Businesses with a duty to provide impartial advice must take steps to ensure the payments they make or receive are not later interpreted as bribes.
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Apr 12, 2024
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How to do it Right: Legal Necessities of Launching a Tech Start-up
An overview of the necessary legal components of tech start-ups.
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Apr 8, 2024
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FinTech: 2023 Legal Year in Review
The FinTech industry in Canada was impacted by significant regulatory developments in 2023. Explore the key updates in our year-in-review summary.
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Feb 7, 2024
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Could it be True? Canada to Introduce Open Banking Legislation
On November 21, 2023, the Government of Canada released its 2023 Fall Economic Statement. The Economic Statement announced the federal government's intention.
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Nov 29, 2023
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Please Pay the Ferryman: OSC Seeks to Levy Additional Fees on Registered and Unregistered Crypto Asset Trading Platforms (CTPs)
The OSC proposed amendments to OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fee and its impact on crypto asset trading platforms.
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Nov 16, 2023
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CSA Provide Further Guidance on the Regulation of Stablecoins
The Canadian Securities Administrators provide further guidance on an interim approach to the regulation of stablecoins (VRCAs) in Canada.
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Oct 24, 2023
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AI Regulatory Roundup: What You Missed in AI News While You Were Gone for the Summer
The relentless march of Artificial Intelligence continues, pushing nations worldwide to adopt diverse strategies to keep pace. Recent AI legal developments.
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Aug 30, 2023
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Remember, Remember, the 1st of November; Navigating the November 1st Deadline in the CDOR Transition and Term CORRA’s Launch
Navigating the November 1, 2023 Deadline in the CDOR Transition and Term CORRA’s Launch.
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Aug 15, 2023
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OSFI Calls for Stakeholder Feedback on Regulatory Capital and Liquidity Treatment of Crypto-asset Exposures
OSFI receiving feedback from banks and insurers about the Guidelines on Regulatory Capital and Liquidity Treatment of Crypto-asset Exposures.
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Aug 1, 2023
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