Crypto Firm Cryptomus Fined a Record $126 Million by Canada Regulator

Crypto firm Xeltox Enterprises Ltd. received the largest penalty on record from Canada’s anti-money-laundering agency for allegedly breaching the rules on suspicious transactions thousands of times in a single month.

Xeltox, which does business under the name Cryptomus, was fined C$177 million ($126 million) by the Financial Transactions and Reports Analysis Centre of Canada, according to a statement on Wednesday. The Vancouver-based firm offers trading, payments, wallets and a peer-to-peer exchange for cryptocurrencies.