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FINTRAC fines Cryptomus a record C$177m for AML/ATF violations

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Photo: James D. Morgan/Getty Images

Catherine Ollinger

1 min read
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The agency’s director and CEO, Sarah Paquet, described the penalty as an “unprecedented enforcement action.”

A record C$176,960,190 ($127m) fine has been levied on cryptocurrency exchange Xeltox Enterprises by Canada’s financial intelligence agency.

Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) imposed the fine on October 15 in the form of an administrative monetary penalty, citing the trading platform’s noncompliance with the Proceeds of Crime

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