Canada Fines KuCoin and TradeOgre for AML Violations
- KuCoin fined CAD 19.6 million; RCMP seizes CAD 56 million from TradeOgre.
- Canada’s regulatory crackdown strengthens in crypto space.
- Potential impact on crypto market compliance and regulation.
Unregistered crypto exchanges in Canada, such as KuCoin and TradeOgre, have drawn scrutiny from authorities for potential money laundering exposure, leading to substantial penalties and regulatory actions.
This highlights regulatory challenges in the cryptocurrency realm, emphasizing the necessity for compliance. Market reactions remain muted as key figures and exchanges have not commented publicly.
Canada’s FINTRAC and RCMP impose significant fines on KuCoin and TradeOgre for anti-money laundering violations in November 2025.
This enforcement highlights the increasing regulatory focus on unregistered cryptocurrency exchanges and their role in illegal financial activities.
KuCoin Fined CAD 19.6M for AML Violations
Canada’s regulatory authorities, FINTRAC and RCMP, have targeted KuCoin and TradeOgre due to significant anti-money laundering (AML) violations. The enforcement actions mark a critical stance against unregistered exchanges.
KuCoin was fined CAD 19.6 million for not complying with AML norms, while TradeOgre faced asset seizure worth CAD 56 million. The violations stem from failing to report suspicious transactions.
Increased Scrutiny on Canadian Crypto Exchanges
The immediate impacts include increased scrutiny on the cryptocurrency exchanges within the region. Canada’s actions signal a firm stance on compliance, influencing market operations globally.
“The Money Laundering Investigative Team (MLIT) opened the file in June 2024, following a tip from Europol. The investigation found that TradeOgre failed to register with FINTRAC and did not identify its clients.”
OSC’s 2022 Fine on KuCoin Echoed in Current Actions
These cases parallel past regulatory actions, such as the OSC’s 2022 fine on KuCoin, emphasizing a consistent policy in enforcing AML compliance among exchanges operating in Canada.
Historical trends suggest potential increased compliance measures and oversight, possibly leading to stricter global crypto regulations due to these prominent cases.
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