- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Canada's regulatory agency has revoked the registration of 23 cryptocurrency companies in one go
According to Decrypt, Canada's financial intelligence agency, the Financial Transactions and Reports Analysis Centre (FINTRAC), took centralized enforcement action on Tuesday against 23 money service businesses (MSBs) that provide cryptocurrency-related services, revoking all of their registrations at once, marking a further escalation of Canada's anti-money laundering regulatory efforts.
Canadian Finance Minister François-Philippe Champagne issued a statement characterizing this action as a "significant acceleration of enforcement pace," and stated that the government will continue to maintain this momentum. Among the revoked registrations, two companies are from abroad—Finast, registered in Slovakia, and Commerce Plex, registered in the UK, both of which also operate traditional currency exchange and transfer services.
According to FINTRAC's official website, the reasons for the revocation of registration include: failure to respond to information requests in a timely manner, non-compliance with registration eligibility conditions, and failure to update relevant records in a timely manner, among other compliance violations.
You may also like
Guarding billions in assets, yet unable to sustain itself: Tally bids a dignified farewell after five years
SEC’s Stance on Crypto Assets: Most Not Considered Securities
Key Takeaways: The SEC’s new interpretation categorizes most crypto assets as non-securities under federal law. This move aims…
South Korea’s New Crypto Seizure Guidelines After Asset Mismanagement Incidents
Key Takeaways: South Korea’s National Police Agency (KNPA) has drafted guidelines for crypto seizure, with a focus on…
Institutional Confidence in Crypto’s 2026 Growth Trajectory
Key Takeaways: A significant 73% of institutional investors plan to increase their crypto holdings by 2026. Exchange-traded products…
Ethereum Reduces Bridge Times by 98% with Fast Confirmation Rule
Key Takeaways: Ethereum introduces the Fast Confirmation Rule (FCR) aiming to cut bridge times from L1 to L2…
Crypto Firms Advocate DeFi Education in US Colleges
Key Takeaways: Twenty-one crypto organizations have called on US colleges to integrate decentralized finance (DeFi) into their curricula…
RedotPay Reorganizes Amidst Funding Tries and IPO Goals
Key Takeaways: RedotPay is facing leadership changes and concerns over its connections with mainland China while eyeing a…
Bitcoin ETF Streak Nears October Highs While Inflows Lag Behind
Key Takeaways: US spot Bitcoin ETFs have continued their inflow streak for seven straight days, accumulating $1.2 billion…
Connecticut Suspends Bitcoin Depot as Revenue Prospects for 2026 Worsen
Key Takeaways: Connecticut halts Bitcoin Depot’s operations, citing regulatory breaches related to the Money Transmission Act. Bitcoin Depot…
DAO Governance Platform Tally Shuts Down Due to Market Challenges
Key Takeaways: Tally, after operating for five years, is shutting down due to a lack of viable business…
Trump Memecoin Shows Volatility Amid Mar-a-Lago Event
Key Takeaways: TRUMP memecoin holders surpassed 83 wallets with over one million tokens after a luncheon announcement with…
Bitcoin Surge in Australian E-commerce Faces Banking Hurdles: In-depth Analysis
Key Takeaways: Cryptocurrency usage in Australia for purchasing goods and services doubled from 6% to 12% in 2026.…
Meta Shuts Down Horizon Worlds VR for Mobile-Centric Strategy
Key Takeaways: Meta is transitioning Horizon Worlds from a VR to a mobile-centric platform starting June 2026. The…
Bitcoin Exchange Inflows Surge Amidst $75,000 Resistance
Key Takeaways: Bitcoin inflows to exchanges have spiked to 6,100 BTC, hinting at potential selling pressure. The large…
Bitrefill Identifies Lazarus Group Behind Cyberattack and Stolen Funds
Key Takeaways: Bitrefill suffered a cyberattack on March 1, likely orchestrated by the infamous Lazarus Group using sophisticated…
Coin Center Advocates for Rulemaking Over No-Action Letters in Crypto Regulation
Key Takeaways: Coin Center challenges the SEC’s reliance on no-action letters, promoting a shift toward comprehensive rulemaking in…
On the eve of the Fed meeting, are traders starting to bet on a rate hike?
Can AI Make $200 a Day with Weather Forecasting?
Guarding billions in assets, yet unable to sustain itself: Tally bids a dignified farewell after five years
SEC’s Stance on Crypto Assets: Most Not Considered Securities
Key Takeaways: The SEC’s new interpretation categorizes most crypto assets as non-securities under federal law. This move aims…
South Korea’s New Crypto Seizure Guidelines After Asset Mismanagement Incidents
Key Takeaways: South Korea’s National Police Agency (KNPA) has drafted guidelines for crypto seizure, with a focus on…
Institutional Confidence in Crypto’s 2026 Growth Trajectory
Key Takeaways: A significant 73% of institutional investors plan to increase their crypto holdings by 2026. Exchange-traded products…
Ethereum Reduces Bridge Times by 98% with Fast Confirmation Rule
Key Takeaways: Ethereum introduces the Fast Confirmation Rule (FCR) aiming to cut bridge times from L1 to L2…
Crypto Firms Advocate DeFi Education in US Colleges
Key Takeaways: Twenty-one crypto organizations have called on US colleges to integrate decentralized finance (DeFi) into their curricula…
App