In 2026, Canada significantly strengthened its oversight of cryptocurrency firms. The country’s national agency, FINTRAC, revoked the registrations of 50 money service businesses, 47 of which were connected to cryptocurrencies. Minister François-Philippe Champagne stressed that these measures are part of a broader anti–money laundering strategy, and the government will continue to closely monitor crypto service providers.
Regulators imposed substantial fines on cryptocurrency platforms Cryptomus and KuCoin, demonstrating a zero-tolerance policy toward violations. Although cryptocurrency transactions account for less than 1% of illegal activity, the government remains vigilant in regulation to reduce potential risks.
