PANews reported on October 22nd that crypto company Xeltox Enterprises Ltd. (operating under the name Cryptomus) was fined CAD$177 million (approximately USD$126 million) by Canada's anti-money laundering agency, FINTRAC, for thousands of suspicious transaction reporting violations within a single month. The Vancouver-based company provides cryptocurrency trading, payment, wallet, and peer-to-peer trading services. FINTRAC CEO Sarah Paquet stated that the severity of the violations compelled the agency to take unprecedented enforcement action. The regulator noted that Cryptomus failed to report over 1,000 transactions suspected of money laundering or terrorist financing in July 2024, and over 1,500 transactions in which customers received over CAD$10,000 in virtual currency during the same period.
Crypto firm Cryptomus fined a record $126 million by Canadian regulators
Author: PA一线
This content is for informational purposes only and does not constitute investment advice.
PA一线3 hour agoPA一线3 hour agoPA一线3 hour ago
PAData: Web3 in Data
Data analysis and visual communication of industry hot spots help users understand the meaning and opportunities behind each data.
A complete review of the 1011 encryption storm
An in-depth review of the epic liquidation events of October 11: from the Trump tariff black swan event to high-leverage margin calls, stablecoin depegging, and market maker liquidity depletion.
Pioneer's View: Crypto Celebrity Interviews
Exclusive interviews with crypto celebrities, sharing unique observations and insights
AI Agent: The Journey to Web3 Intelligence
The AI Agen innovation wave is sweeping the world. How will it take root in Web3? Let’s embark on this intelligent journey together
Memecoin Supercycle: The hype around attention tokenization
From joke culture to the trillion-dollar race, Memecoin has become an integral part of the crypto market. In this Memecoin super cycle, how can we seize the opportunity?
Real-time tracking of Bybit attack
Bybit suffered a security incident, and funds worth $1.44 billion were withdrawn. A North Korean hacker group was accused of being the perpetrator.