Canada slaps record‑breaking C$176.9 m fine on Xeltox for crypto AML failures

Canada’s financial watchdog has issued a record fine of C$176. 9 million ($126 million) against Xeltox, the company known publicly as Cryptomus, for what the Financial Transactions and Reports Analysis Centre of Canada (Fintrac) calls “an unprecedented anti-money-laundering failure. ” The regulators also reportedly discovered that the company didn’t file mandatory reports for more than 1,500 crypto […] source: https://www.cryptopolitan.com/canada-slaps-c176-9-m-fine-on-xeltox/