Bangladesh, March 28 -- Canadian authorities have recently revoked the registrations of dozens of cryptocurrency businesses following a growing investigation into unlawful crypto operations, highlighting a sharper enforcement focus on the industry. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the countrys anti-money laundering regulator, removed 23 cryptocurrency firms from its registry last week, marking a significant step in the oversight of digital currency businesses. Earlier in the month, FINTRAC had also struck off registrations for a dozen other crypto companies, demonstrating a clear escalation in regulatory action.

The revocations come in the wake of a detailed investigation by the International Co...