Canadian Regulator Mass Revokes Registration of 23 Cryptocurrency Firms

BlockBeats News, March 18th, according to Decrypt's report, the Canadian financial intelligence agency Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) took centralized enforcement action against 23 Money Services Businesses (MSBs) providing cryptocurrency-related services, revoking their registration in one go, further enhancing Canada's anti-money laundering regulations.

The reasons for the registration revocation include: failure to respond to information requests in a timely manner, non-compliance with registration requirements, and failure to update relevant records promptly, among other compliance violations.