Canada enforcement crackdown hits 47 crypto firms as 50 MSB registrations revoked this year

Canadian authorities have revoked the registrations of 50 money services businesses (MSBs) so far this year, with 47 linked to cryptocurrency-related activity. Regulators are focusing on firms suspected of having weak compliance controls as Ottawa intensifies efforts to curb money-laundering risks. The latest moves come as global scrutiny of crypto regulation increases. Officials said additional enforcement actions are already underway, with crypto MSBs and crypto ATMs facing heightened regulatory pressure.