Canada: Financial Transactions and Reports Analysis Centre issued fine of CAD 19.5 million against KuCoin over violation of business registration requirements
Description
Financial Transactions and Reports Analysis Centre issued fine of CAD 19.5 million against KuCoin over violation of business registration requirements
On 25 September 2025, the Financial Transactions and Reports Analysis Centre (FINTRAC) imposed an administrative monetary penalty of CAD 19. 552 million on Peken Global Limited, also operating as KuCoin, for non-compliance with Part 1 of the Proceed…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Business registration requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body