Canada's government has tabled a budget implementation Bill (Bill C-47) making significant amendments to the anti-money laundering (AML) regime. The amendments include giving law enforcement a special warrant power to freeze and seize digital assets, including virtual currency, with suspected links to crime. The budget also proposes a new intergenerational business transfer tax regime that is more restrictive than that introduced by Bill C-208 in 2021, which granted parents lifetime capital gains exemption on the sale of their business to children and grandchildren.
News Source：【Osler Hoskin & Harcourt 2023/05/09】