Canada Revokes Dozens of Crypto Business Licenses in AML Crackdown

[mendez]

FINTRAC has revoked the registrations of 50 money services businesses (MSBs) so far in 2026, with 47 tied to crypto operations, signaling an aggressive regulatory push.

In its latest move, the agency canceled 23 registrations in a single action, giving affected firms 30 days to request a review. Canada’s Finance Minister, François-Philippe Champagne, said the government is accelerating enforcement to combat money laundering and fraud.

Officials emphasized that crypto-related businesses, including exchanges and ATMs, remain a key focus due to their potential misuse in illicit financial activity.

[JanEmil]

Governments want their share