Xeltox Enterprises, the parent company of Cryptomus, has been fined $177 million by FINTRAC due to compliance violations. This penalty represents the largest fine issued by the Canadian regulatory body. FINTRAC, which oversees compliance with anti-money laundering regulations in Canada, took action against Xeltox for failing to meet required standards. The significant amount of the fine highlights the seriousness of the violations attributed to the company. Xeltox Enterprises has yet to publicly respond to the penalty or outline any steps it may take in reaction to the ruling.
