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Xeltox Enterprises Faces $177 Million Fine from Canadian Regulator

Xeltox Enterprises Faces $177 Million Fine from Canadian Regulator

Author:

Global Cryptocurrency

Published:

2025-10-23 05:29:02

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BTCCSquare news:

FINTRAC has imposed a record $177 million penalty on Xeltox Enterprises, parent company of cryptocurrency platform Cryptomus, for systemic compliance failures. The Canadian regulator cited 1,068 missed suspicious transaction reports and 1,518 unreported large virtual currency transactions in July 2024 alone.

Violations were linked to serious criminal activities including child exploitation material trafficking and sanctions evasion. This landmark enforcement action signals regulators' growing intolerance for anti-money laundering lapses in crypto enterprises.

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