Canada has introduced legislation to establish a new Financial Crimes Agency (FCA), a dedicated body empowered to investigate and prosecute financial crimes such as money laundering and terrorist financing. The move follows a public inquiry that found Canada lacked a coherent enforcement strategy, and contrasts sharply with the United States, where the Trump administration has redirected tens of thousands of federal investigators away from financial crime toward immigration enforcement and issued a pardon to Binance founder Changpeng Zhao, who pleaded guilty to money laundering charges. Canada will also ban cryptocurrency ATMs — of which it has nearly 4,000, the most per capita in the world — as part of the broader crackdown, with experts describing the new agency as a necessary safeguard given the estimated $3 trillion in illicit funds circulating through the global financial system each year.