Canada: 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
Description
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…
Scope
Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body