Canada Fines Xeltox $176.9 Million for Crypto AML Violations

Canadian authorities have imposed a historic C$176.9 million fine on Xeltox Enterprises Ltd., operator of Cryptomus, for failing to comply with anti-money laundering (AML) regulations in its cryptocurrency transactions. This unprecedented penalty marks the largest ever levied for crypto AML breaches in Canada, highlighting the country’s commitment to financial integrity and stricter regulatory oversight in the sector.