Amber Scott (Outlier Canada) on crypto-bank relationships in Canada

Compliance expert Amber Scott joins the show to explain why crypto-firms are systematically excluded from the bank sector in Canada. In this episode:

  • Our objective in launching a series on bank suppression of the crypto industry
  • The current bank landscape in Canada
  • Why crypto firms struggle to get access to banking in Canada
  • Why money transmitters face a more burdensome treatment from banks
  • What derisking is and why it is so common
  • Whether MSBs and crypto firms deserve the treatment they get from banks
  • Why derisking often forces crypto firms into using grey market payment processors, exposing them to the risk of fraud
  • The underlying reasons for reluctance on the part of banks to bank crypto firms
  • Why informal guidance from regulators is so critical
  • How US regulations are structurally imported into Canada
  • How a service provider called Central One imports US policy for thousands of credit unions

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