Canada's financial intelligence unit publishes its Money Services Business registry as a monthly file. The September edition, published on 17 September 2026, records 164 registrations revoked so far this year — and 125 of those businesses had listed dealing in virtual currency among their services. The one revocation dated in September is a name with a Nasdaq-listed parent: ALT 5 SIGMA CANADA, INC., registered since March 2020, revoked on 4 September 2026.
The revocation appeared in License Watch this week, in our diff of the FINTRAC registry against our previous snapshot. We could find no coverage of it.
What the register shows
| Entity | ALT 5 SIGMA CANADA, INC. |
| Register | FINTRAC Money Services Business Registry (Canada) |
| Registration number | M20608365 |
| Registered since | 6 March 2020 |
| Services listed | Virtual currency; payment service provider |
| Status | Revoked |
| Revocation date | 2026-09-04 |
| Source | FINTRAC MSB Registry — search "ALT 5 SIGMA"; also FINTRAC's list of businesses with revoked registration and the Open Government export |
ALT 5 Sigma Canada is the Canadian subsidiary of ALT5 Sigma Corporation (Nasdaq: ALTS), a fintech and digital-asset company. The parent's SEC filings disclosed a May 2025 judgment by a Rwandan court against the Canadian subsidiary and its former principal. FINTRAC's register does not state a reason for revocation, and we do not infer one: under Canada's PCMLTFA, FINTRAC may revoke a registration for reasons ranging from ineligibility and unpaid administrative penalties to incomplete or false information, and the register records only the outcome. What the register establishes is narrower and more useful: as of 4 September 2026, this entity is not a registered MSB in Canada.
A year of revocations, in the register's own numbers
FINTRAC's file carries every revocation with its date. Grouping the 2026 entries by month:
| Month (2026) | Revocations |
|---|---|
| January | 5 |
| February | 1 |
| March | 64 |
| April | 51 |
| May | 27 |
| June | 11 |
| July | 1 |
| August | 3 |
| September (to the 17th) | 1 |
| Total | 164 |
Of the 164, 125 listed virtual currency among their services — 76%. The March and April waves are what the compliance press reported as FINTRAC's "crypto crackdown" and its takedown of 23 crypto-linked MSBs; the register shows the campaign was larger than any single announcement, and that it has since slowed to a trickle of individual actions.
Among the revocations since our previous FINTRAC snapshot in June, alongside ALT 5 Sigma:
| Revoked | Entity | Reg. no. | Registered since | Services listed |
|---|---|---|---|---|
| 2026-08-07 | EFI ECOM LIMITED | M22513057 | 2022-05-04 | FX, money transfer, money orders, virtual currency, crowdfunding, PSP |
| 2026-08-07 | UPAYZA Inc. | C100000077 | 2024-09-17 | Money transferring |
| 2026-08-07 | DELMAR EXCHANGE INC. | C100000636 | 2025-06-12 | Money transferring, PSP |
| 2026-07-16 | Basal Pay Ltd. | C100000632 | 2025-06-11 | FX, money transfer, virtual currency |
| 2026-06-15 | BANKINGRAIL FINTECH LTD. | C100001096 | 2025-10-17 | FX, money transfer, money orders, virtual currency, PSP, cheque cashing |
| 2026-06-12 | COINCENTRIC GROUP INC. | C100000876 | 2025-09-11 | Money transferring, virtual currency |
| 2026-06-12 | CHAINCASH SOLUTIONS INC. | C100000830 | 2025-08-29 | FX, money transfer, virtual currency, PSP |
| 2026-06-12 | OSMIUM CANADA LTD. | C100000480 | 2025-03-13 | Money transferring |
| 2026-05-01 | KREDETE TECHNOLOGY LIMITED | M23807225 | 2023-08-30 | FX, money transfer, virtual currency, crowdfunding, PSP |
A detail worth noticing in the registration numbers: the C1000… series are registrations issued since 2024. Most of this year's revoked firms were registered for less than eighteen months. SWISH PAYMENT TECHNOLOGIES INC. (C10001768) was registered on 30 October 2025 and revoked on 14 January 2026 — eleven weeks. Registration in Canada is a filing, not an authorisation; the enforcement happens afterwards, and the register is where it shows.
What it means
If you accept payments from, or pay out to, Canadian counterparties: a revoked MSB registration means the business may not lawfully provide money services in Canada. If one of the entities above is in your payment chain — as a remittance partner, a crypto on-ramp, a payout provider — the register, not the counterparty, is the record you will be asked for. Canadian-licensed alternatives are listed on our Canada provider page; cross-border providers with their own registrations include Wise, Remitly and Revolut.
If you are an MSB or a fintech with a Canadian entity: 164 revocations in nine months, three-quarters of them crypto-linked, is the base rate. The registrations most exposed are recent ones with broad service lists.
A note on citations: FINTRAC retired the old www10.fintrac-canafe.gc.ca search host this year; the registry now lives at fintrac-canafe.canada.ca/msb-esm/reg-eng, with monthly CSV and XLSX exports. Every FINTRAC line in License Watch now points there.
Why you're reading it here
Revocations do not come with press releases from the revoked. They come with a status change in a monthly file. License Watch diffs the FINTRAC registry each month alongside the FCA, EBA, ESMA MiCA, FinCEN and ASIC registers, and publishes every registration, expiry, cessation and revocation with a citation to the regulator's own record. No claim without a citation — if we can't cite it, we don't publish it.
Read the latest issue, or request access to the weekly digest.
PaymentProviders.io is an informational service. Registry data belongs to the issuing regulators; status labels reflect the regulator's own wording. A revoked registration is a regulatory status, not a finding of wrongdoing by PaymentProviders.io. This article is not financial or legal advice, and PaymentProviders.io is not affiliated with any entity named.
