Canada FINTRAC Revokes 47 Crypto Firms' MSB Registrations

Canada's financial intelligence unit has pulled the money services business registrations of 47 crypto companies so far in 2026. FINTRAC's enforcement pace is picking up. The revocations form part of a broader federal push to combat financial crime through virtual currency channels.

Finance Minister François-Philippe Champagne confirmed the government's position in an official statement released by the Department of Finance Canada. He stated that money laundering poses a direct threat to the integrity of Canada's financial system. The government would maintain its enforcement momentum, he said.

"Today alone, there have been 23 revocations of money services businesses registrations," Champagne said in the statement. That figure represents a single day's action. The broader 2026 total now sits at 47 firms.

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Crypto ATMs and Virtual Currency Firms Under the Lens

">BSCNews on X reported the Canada crypto crackdown figures, citing Cointelegraph as the source. According to BSCNews, in their post on X, the Canadian financial intelligence unit revoked registrations of a staggering 47 crypto companies in 2026 alone. The crackdown forms a wider response to money laundering concerns, per Finance Minister Champagne.

Cryptocurrency MSBs and crypto ATMs drew specific mention in the minister's statement. The government said it would pursue new measures targeting risks those business types introduce. Both can be used to facilitate money laundering and fraud, according to the official release.

FINTRAC's public database of revoked MSB registrations currently shows 277 entries filtered from a total of 7,624 registered businesses. That figure covers multiple years of enforcement. The 47 crypto-specific 2026 revocations sit within that larger pool.

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New Agency, More RCMP Funding, and Bill C-12

The federal government pointed to three structural changes backing the enforcement push. Increased resources for the RCMP, a new Canadian Financial Crimes Agency, and strengthened FINTRAC supervision all form part of the response. Provisions inside Bill C-12 give that supervision legal teeth.

The minister framed it as bringing all federal tools to the table. FINTRAC's role extends beyond tracking. It now handles compliance actions with rising transparency, the statement confirmed.

The pace of Canada's crypto crackdown in 2026 already represents a step-change from prior years. Forty-seven registrations revoked across the virtual currency sector signals regulators are no longer treating these businesses lightly. The government said it would track and pursue additional measures as risks develop.

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