Canada's Financial Transactions and Reports Analysis Centre (FINTRAC) has revoked the registrations of 23 cryptocurrency-related money services businesses (MSBs) in a major enforcement action. This move marks a significant escalation in Canada's anti-money laundering efforts. Finance Minister François-Philippe Champagne emphasized the government's commitment to maintaining this accelerated enforcement pace. Among the affected firms are two foreign-based entities: Finast from Slovakia and Commerce Plex from the United Kingdom, both of which also provided traditional currency exchange services. The revocations were due to compliance violations, including failure to respond to information requests, not meeting registration criteria, and not updating records promptly.