Automate Large Virtual Currency Transaction Reports (LVCTRs)
From blockchain transaction to FINTRAC filing, without the manual work
MSBs love cutting through FINTRAC's red tape so they can focus on scaling their business.
Rhizome's automation software can talk directly to FINTRAC's APIs to file LVCTRs on your behalf.
We give you multiple ways to provide your customer and transaction data, while our transaction monitor will group everything into reports based on date and conductor.
Even if all you have is a single transaction hash, we can get you a good part of the way to a valid filing with our transaction enrichment which can fetch things like rates, amounts, and other blockchain specific data.
A Large Virtual Currency Transaction Report (LVCTR) is the report Canadian reporting entities must file with FINTRAC when they receive $10,000 CAD or more in virtual currency. The threshold applies to a single transaction and to two or more related transactions within a static 24-hour period commonly called the 24-hour rule. Reports are generally due within 15 calendar days of the transaction, and a copy must be retained for at least five years.
Rhizome turns that recurring obligation into an automated workflow. Connect your transaction data, let our monitoring engine identify and aggregate reportable activity, enrich each report with blockchain data, and file directly with FINTRAC. Your team reviews exceptions instead of rebuilding the same reports every day. See how our threshold reporting automation works.
How Rhizome Automates LVCTR Filing
One pipeline from raw transaction data to a filed report
24-Hour Aggregation
Our transaction monitor groups qualifying receipts by conductor, beneficiary, and 24-hour period, then links related transactions into a single report. This prevents fragmented filings, duplicate reports, and missed activity when several smaller transfers together cross the $10,000 CAD threshold.
Direct FINTRAC API Filing
Rhizome submits validated LVCTRs directly through FINTRAC's application programming interfaces. No web forms, spreadsheets, or manual re-keying required. Each filing returns a confirmation receipt, and every submission, correction, and response is stored in a complete audit trail.
Blockchain Enrichment
Start with as little as a transaction hash. Rhizome enriches the record with the virtual currency type, network, amount, wallet addresses, block timestamp, and the CAD exchange rate at the time of the transaction, so the report reflects what actually moved on-chain.
Flexible Data Ingestion
Send transactions by API, CSV upload, or SFTP drop, and let Rhizome's monitoring rules detect reportable activity from your existing feeds. Validation runs before filing, surfacing missing or inconsistent fields while there is still time to correct them.
From Transaction to Filed Report
Four steps, fully auditable
- Ingest transaction and customer data from your platform, core system, or SFTP feed.
- Detect and aggregate reportable virtual currency receipts using the $10,000 CAD threshold and the 24-hour rule.
- Enrich and validate each report, including blockchain details, counterparties, and required FINTRAC fields.
- File directly with FINTRAC, store the confirmation receipt, and retain an audit-ready record.
Who Needs to File an LVCTR?
Reporting entities that receive virtual currency
LVCTR requirements apply to reporting entities that receive virtual currency, including money services businesses (MSBs), cryptocurrency exchanges and transfer services, wallet providers, payment processors, and casinos. If your organization already files LCTRs or EFTRs, Rhizome can run LVCTR reporting through the same ingestion, monitoring, and filing pipeline. Learn more about our Canadian compliance coverage.
LVCTR Frequently Asked Questions
What is an LVCTR? A Large Virtual Currency Transaction Report is a FINTRAC report for a receipt of $10,000 CAD or more in virtual currency, either in one transaction or in related transactions within 24 hours.
What is the 24-hour rule? FINTRAC applies the 24-hour rule to a static 24-hour period rather than a rolling window. If two or more related transactions total $10,000 CAD or more within that period, they must be reported together as a single LVCTR.
What is a sliding LVCTR alert? FINTRAC's LVCTR rule uses a static business day. Rhizome also runs a supplemental sliding 24-hour check. When a customer's transactions total $10,000 CAD or more within a rolling 24-hour window that crosses a calendar-day boundary, we raise an alert. The activity may still be reported in a normal LVCTR, but because the timing could be an attempt to evade the 24-hour rule, your analyst can review it and decide whether to file a Suspicious Transaction Report (STR).
When is an LVCTR due? Generally within 15 calendar days after the transaction occurred. The report and supporting records must be kept for at least five years.
Can Rhizome file directly with FINTRAC? Yes. Rhizome validates and transmits LVCTRs through FINTRAC's APIs, then stores the confirmation and audit trail. Corrections and resubmissions go through the same workflow.
What if I only have a transaction hash? That is often enough to start. Rhizome enriches the hash with on-chain data such as the virtual currency, amount, addresses, timestamp, and CAD rate. You may still need customer identification details to complete the filing.
Can one transaction require an LVCTR and another report? Possibly. A large virtual currency receipt can also require a Suspicious Transaction Report when there are reasonable grounds to suspect money laundering or terrorist financing, and a transaction involving both cash and virtual currency can require an LCTR as well. Rhizome lets your team escalate a threshold report to an STR in one click, carrying over the transaction, customer, and blockchain details so the investigation starts with the full picture.
See how Rhizome can automate your LVCTR workflow, or another report or jurisdiction.