A cryptocurrency exchange has been slapped with a fine of almost $177 million, which is the largest-ever penalty by Canada’s financial intelligence agency, for infractions including failing to flag more than 1,000 transactions with suspected links to criminal activity. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced the penalty for Xeltox Enterprises Ltd. on Wednesday. The B.C.-incorporated business operates as Cryptomus and was previously known as Certa Payments Ltd. Anne Gaviola has this story and more in Business Matters for Wednesday Oct. 22, 2025.
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Business Matters: Crypto exchange Cryptomus fined record $177M by Canada’s financial crime watchdog
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