Canadian Cryptocurrency Regulations at HoneyBadger

Recent Changes at Our Kiosks:

To transact with a HoneyBadger kiosk, you will now need to provide a phone number that can receive a text message for all transactions under $1,000. For all transactions over $1,000, we will need Identification (preferably a driver’s license) to be provided. Customers are also now limited to buying or selling a total of $10,000 every 24 hours. For more detailed information, please continue reading.

FINTRAC Compliant

If you have been to a HoneyBadger kiosk this month, you will have noticed some changes. As of June 1st, all cryptocurrency dealers in Canada, HoneyBadger included, are defined as “dealers in virtual currency” and must report as much to the Government of Canada so we proactively registered as a “Money Services Business” with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC is the financial intelligence body of the Canadian Government. In simple terms this means that we are now regulated and legally recognized as a financial institution in Canada. This is a huge win for Bitcoin and cryptocurrencies in Canada to finally have regulatory clarity. This now legitimizes our industry and gives us the opportunity to build a faster, more functional and extra fearless Bitcoin business!

New Regulation, New Rules

New regulation comes with some new rules, which we must comply with. The biggest change going forward is that customers must identify themselves before each transaction. To identify yourself, you will need:

    • Phone number that can receive a text

    • A piece of government issued ID

    • Backup proof for your identification such as a hydro bill

Why do we need this? It is required by the Canadian Government to protect our financial system. Asking for this information assists in preventing money laundering. For more information, please see the Anti-Money Laundering (AML) and Know Your Client (KYC) directives.

This might seem like a big change as we previously did not require personal information to use our service. We are confident that after your initial registration this will supercharge the top-notch service all our fellow HoneyBadgers have come to expect. Quicker transactions, better information and communication and new features such as quicker crypto-selling is all coming now that we have these programs in place!

Information Requirements

    • $5.00 – $999.00 – Requires phone number

      • Receive text on your phone (2-Factor Authentication) to verify you at the machine

    • $1,000.00 – $10,000.00 – Requires phone number and identification

      • Receive text on your phone (2-Factor Authentication) to verify you are at the machine

      • ID only required on first transaction over $1,000.00

How to Register

Identification can be provided through our online portal. Any government-issued photo identification can be used at our kiosk such as;

    • Drivers License
    • Passport
    • Identification Card
    • Status Card

All IDs can be submitted online at:

If you are having trouble registering, please contact support. Alternative options include:

    • Sending a photo of your ID to us via email

Thank You!

Thank you in advance for adapting with us to the new regulatory environment in Canada. We at HoneyBadger are excited to get to know all of you, our amazing customers! Without you, we never would have made it this far. Here’s to continuing to build the most badass bitcoin experience in The Great White North!

Over and out,

The HoneyBadger Team

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