According to Decrypt, Canada's financial intelligence agency FINTRAC revoked the registrations of 23 money services businesses (MSBs) providing cryptocurrency-related services on March 18. Canadian Finance Minister François-Philippe Champagne stated that the government will continue to advance measures targeting risks posed by crypto MSBs and crypto ATMs. Information from FINTRAC's official website indicates that registrations can be revoked due to compliance issues such as failing to respond to information requests in a timely manner, not meeting registration qualifications, or failing to update records promptly.

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