Canada's Financial Transactions and Reports Analysis Centre (FINTRAC) has imposed a record fine of 19.6 million Canadian dollars ($14.09 million) on Peken Global Limited, the operator of cryptocurrency exchange KuCoin. The Seychelles-based company was penalized for failing to register as a foreign money services business, not reporting large virtual currency transactions over 10,000 Canadian dollars, and neglecting to file suspicious transaction reports. This marks the largest fine ever levied by FINTRAC, highlighting the agency's stringent enforcement of anti-money laundering regulations.