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Ottawa outlines plans to tackle financial crime, ban crypto ATMs
The agency would centralize investigations into money laundering and fraud, with $352.7 million in planned funding over five years, officials said.
- On Monday, Finance Minister François-Philippe Champagne introduced legislation to establish the Financial Crimes Agency, representing a significant structural reform to Canada's anti-financial-crime architecture.
- Canada has long faced criticism for its fragmented approach to tackling money laundering and fraud, with enforcement currently spread across multiple federal and provincial bodies.
- The government is allocating $352.7 million over five years to the agency, headquartered in Ottawa with a mandate to investigate "serious and complex financial crimes."
- Alongside the agency's creation, the government plans to ban cryptocurrency ATMs, of which Canada has just under 4,000, citing their use by criminals to defraud Canadians.
- Justice Minister Sean Fraser will also explore criminal justice reforms targeting complex financial crimes, while the Public Prosecution Service of Canada receives $46.2 million over five years.
42 Articles
42 Articles
After freezing bank accounts during Freedom Convoy, Liberals now move to ban crypto ATMs
Subhead:Mark Carney's Liberals are looking to ban cryptocurrency cash machines across Canada.# After using emergency powers to freeze bank accounts linked to protesters during the Canada convoy protest, the Liberal government is now moving to shut down another avenue Canadians use outside the traditional banking system: crypto ATMs. Buried in the Spring Economic Update 2026 is a proposal to ban cryptocurrency cash machines across Canada. Ottaw…
Canada Proposes Crypto ATM Ban to Tackle Scams, Money Laundering
The Canadian government has proposed banning Bitcoin and other crypto ATMs, arguing the machines have become a primary on-ramp for fraudsters and money launderers rather than a convenient access point for everyday users. The government’s Spring Economic Update 2026, published on April 28, says crypto ATMs are a “primary method for scammers to defraud victims and for criminals to place their cash proceeds of crime,” and explicitly states that the…
Mark Carney's federal government will ban cryptocurrency ATMs, saying they are used by fraudsters and criminals.
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