Canada’s anti-money laundering (AML) watchdog, The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), recently announced that it had imposed a fine of $126 million on crypto trading platform Cryptomus for failure to report illicit transactions.

FINTRAC Slaps $126 Million Fine On Crypto Exchange Cryptomus

According to an official announcement on October 22, Canada’s FINTRAC has slapped a massive penalty of $126 million on Vancouver-based digital assets trading platform Cryptomus. The exchange was found in breach of multiple federal AML and counter-terrorist financing laws.

Notably, the fine imposed by FINTRAC on the trading platform is the largest penalty slapped on a Canada-based virtual assets entity to date. Cryptomus failed to report more than 1,000 suspicious

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