Canada Fines KuCoin and TradeOgre for AML Violations: Implications for Crypto Market Compliance

Canadian authorities have levied significant penalties on two unregistered crypto exchanges, highlighting the growing regulatory focus on compliance in the crypto space. KuCoin was fined CAD 19.6 million for failing to comply with anti-money laundering (AML) regulations, while TradeOgre had assets totaling CAD 56 million seized by authorities. These actions are part of Canada’s efforts to curb illicit financial activity within the cryptocurrency market.