Canada Fines Crypto Firm $126 Million Over Money Laundering Violations

Canadian authorities have imposed the largest-ever administrative penalty on a cryptocurrency platform, fining Cryptomus C$176.96 million (USD$126 million) for widespread failure to report suspicious transactions. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced the significant fine against Xeltox Enterprises Ltd., which operates the Cryptomus payment platform, on Wednesday. }