Regulatory Alerts2024-09-19
Added · Updated
FINTRAC imposes an administrative monetary penalty on Coinseason Capital Inc.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a $33,000 administrative monetary penalty on Richmond-based money services business Coinseason Capital Inc. for failing to renew its mandatory registration. The enforcement action, finalized on May 31, 2024, addresses non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations. Coinseason Capital Inc. has satisfied the financial obligation, bringing the regulatory proceedings to a close.