1 of 1
Story summary
- Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed a record C$177 million fine on Vancouver-based crypto exchange Xeltox Enterprises, operating as Cryptomus.
- The penalty cites nearly 2,600 AML violations, including failing to report over 1,000 suspicious transactions tied to criminal activity such as child sexual abuse and fraud.
- The fine surpasses KuCoin's previous record of C$20 million.
- FINTRAC urged stricter compliance in the evolving crypto sector.
