About this episode
Canadas financial watchdog, Fintrac, revokes registrations of eleven unauthorized crypto shops on Yonge Street in Toronto, escalating their crackdown on money laundering and illicit funds. This move comes after an investigation revealed dozens of unauthorized crypto spots, with six operating without registration and five losing their approvals. Experts and officials welcome the tougher stance, with Fintrac announcing forty more revocations this week, pushing their five-year total to three hundred twenty. Many revocations stem from simple failures, leaving businesses unable to operate legally. Some affected shops seek reviews for reinstatement, but Fintrac vows to continue rigorous policing to protect Canadians from these vulnerabilities.
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