FINTRAC revokes 23 crypto MSBs registrations in a major crackdown on non-compliant exchanges, ATMs, and foreign operators to tighten anti-money-laundering and counter-terrorist financing controls

The action targets firms that failed to comply with regulatory obligations, including responding to information requests, maintaining up-to-date records, and meeting registration requirements. The move affects crypto exchanges, ATMs, and foreign operators, highlighting the government’s intensified efforts to curb illicit finance in the rapidly growing digital asset sector and signal stricter enforcement for businesses that fail to adhere to AML and counter-terrorist…