Regulatory bodies have significantly tightened their oversight of cryptocurrency businesses in the last decade. Just last year, FINTRAC slapped Binance with a staggering $6 million penalty in 2024, highlighting Canada's strict cryptocurrency regulatory environment. The current regulations require all digital asset companies to register as Money Service Businesses (MSBs) with FINTRAC. These businesses must follow strict anti-money laundering and counter-terrorist financing protocols. Today, we’ll explore regulatory requirements, compliance challenges, and opportunities that propel development in this growing sector.