The encryption company Cryptomus was fined $126 million by Canadian regulators.

[Cryptocurrency company Cryptomus fined $126 million by Canadian regulators] The cryptocurrency company Xeltox Enterprises Ltd. (operating under the name Cryptomus) has been issued a record-high fine of 177 million CAD (approximately $126 million) by Canada's anti-money laundering agency FINTRAC for thousands of violations of suspicious transaction reporting regulations within a month. This Vancouver-based company offers Crypto Assets trading, payment, Wallet, and peer-to-peer transaction services. Regulators pointed out that Cryptomus did not report more than 1,000 transactions suspected of money laundering or terrorism financing in July 2024, and during the same period, did not report more than 1,500 transactions where a single customer received more than 10,000 Canadian dollars in virtual currency.

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