Canada: Financial Transactions and Reports Analysis Centre's investigation into Cryptomus over alleged breaches of anti-money-laundering and counter-terrorist-financing rules
Progress
Current status
in force
16 Oct 2025 in force
Scope
Implementers
Canada
Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
Financial Transactions and Reports Analysis Centre issued fine of CAD 176.96 million against Cryptomus over breaches of anti-money-laundering and counter-terrorist-financing rules
On 16 October 2025, Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) fined Xeltox Enterprises Ltd. (operating as Cryptomus) CAD 176.96 million for breaches of anti-money-laundering and counter-terrorist-financing rules. The pena…
Event type
investigation
Action type
ruling
Government branch
executive
Government body
other regulatory body