OTTAWA — Canada’s financial intelligence agency has imposed its largest penalty ever on a Vancouver cryptocurrency company for failing to report suspicious financial transactions suspected of being connected to laundering money from trafficking in child sexual abuse material, fraud, ransomware payments and evading sanctions. Article content

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) said Wednesday that Xeltox Enterprises Ltd., which operates as Cryptomus, has been fined $176,960,190 for a range of administrative violations, including failing to report transactions of more than $10,000 in virtual currency on 1,518 occasions in July 2024. Article content

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