Canada revokes licenses of 47 cryptocurrency companies as part of sweeping regulatory tightening
23.03.2026
Canadian regulators are tightening control over the cryptocurrency industry by revoking the licenses of 47 companies that provide services with digital assets. This decision was made as part of a large-scale campaign to protect the financial interests of citizens and combat money laundering.According to the Financial Transactions and Reporting Analysis Center of Canada (FINTRAC), there are over 250 cryptocurrency companies registered in the country. However, a recent audit found that a large portion of them did not meet updated anti-money laundering and counter-terrorist financing requirements.The revoked licenses affected both small startups and large market players. The authorities emphasize that the new transparency and reporting standards are aimed at increasing confidence in the digital asset sector and protecting retail investors. According to FINTRAC representatives, the strengthening of control will prevent illegal transactions and reduce risks for the country's financial system.Experts note that such measures are in line with global trends in cryptocurrency regulation and may become an incentive to improve the quality of services on the market. It is expected that companies seeking to continue operating in Canada will be forced to invest in strengthening internal controls and compliance with international security standards.
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